The cryptocurrency market rebounded last night, with Bitcoin standing back at 114,000, and other altcoins like ETH, SOL, and DOGE rising over 5% in the past 24 hours. Meanwhile, BNB's price also surged by 7%, reaching a record high of $881.9.
In the past 24 hours, a total of 90,412 people across the network were liquidated, with a total liquidation amount of $343 million, with long positions liquidated at $125 million and short positions at $217 million.
BTC
The Bitcoin daily chart shows that the previous bear-dominated pattern has clearly loosened, with price movements showing clear signs of an upward turn, and initial trend reversal signals appearing. From a short-term perspective, last night's failure to break the 114600 resistance level still leaves room for a certain pullback.
The current market is in a rebound and repair phase, with the pullback being a correction rather than a breakdown. The key support level is at 112000-111800; if this area is not broken, it may successfully form a bottom.
Strategy:
Buy on a pullback around 113600-114000, with a stop at 113100, aiming for 115300-115800. If it breaks, look for 116300-116700; if it doesn't break, short. Currently, the 1h/15min levels show a short-term right-side trend, focusing on buying on a pullback today and avoiding shorting.
ETH
Those who bought near 4060 last night must have read my article, which noted: if it breaks, look for the 4060-4000 area; if it doesn't break, continue to buy. Sure enough, it has rallied, consistent with yesterday's thinking!
Today, looking at the Ethereum 4-hour chart, its price is oscillating near the upper part of the Bollinger Bands middle line, with two consecutive bearish candles: the first one has a long upper shadow and the second one shows a small hammer bearish candle shape, indicating significant battles between bulls and bears. Currently, the price is supported above the EMA24/52 death cross area (4313-4297), but the K-line body is gradually expanding, showing a stepwise decline. If the 1-hour chart EMA24/52 support (4272-4265) is broken, the downside potential may further open up.
Strategy:
Buy on a pullback around 4260-4290, with a stop at 4220, aiming for 4380-4400. If it breaks, look for 4450-4480; if it doesn't break, short.
In the crypto world, calling for a bottom when prices are low and calling for an escape when prices are high is tiring and unappreciated.
Most people see a bull market when prices rise and a bear market when prices fall, which is human nature. But when I suggest contrary operations, I often get attacked. In April, I warned everyone to buy ETH at the bottom, when it was below 2000, and I was harshly criticized!
If they call it right and make money, they won't thank you; if they call it wrong, they will chase after you and curse you. Currently, it is very likely that the market is still in auction mode. When the real top level appears, I will withdraw immediately.
DOGE
Clearly stated the entry points for buying, with stable profits, continue to hold.
YZY skyrocketed! Is it all just a coincidence? Can it still be chased?
1. $Libra funds were just released a few hours ago, and Kanye has launched his own token.
2. Multiple insider addresses rushed to buy, immediately buying YZY as soon as the announcement was made. For example, the insider wallet 6MNWV8 even attempted to purchase yesterday, clearly knowing the contract address beforehand.
3. Moreover, YZY's method of adding liquidity is similar to LIBRA, both are one-sided pool sales.
So, is this series of operations just a coincidence? Or is there a narrative behind it on the level of Trump? Currently, it's not recommended to chase, as the front row controls a large amount of chips and is distributing them.
