Yesterday, Bitcoin and Ethereum once again dipped, with Bitcoin falling to a low of $112,015, hitting a new recent low, and Ethereum dropping to $4,204, with the bottom continually rising. In the last 24 hours, a total of 77,079 people globally were liquidated, with a total liquidation amount of $221 million; long positions liquidated amounted to $158 million, and short positions amounted to $62.2098 million.
BTC
Yesterday, BTC could not break the resistance level of 114,500 and continued to test the 112 position. The current market clearly shows a downward trend; it is uncertain where BTC will fall to. There has been no significant volume spike at 112,000, and today's rebound is quite weak.
1) If there is an upward fluctuation here, it should test the 114,500 resistance level again; a breakthrough is needed to continue the rebound and test the 1167 position.
3) The previous high range of 110,500-112,000 is a key support level. If it breaks, the level of decline will expand, and we will see BTC below 100,000.
BTC has peaked and entered a bear market; is it time to escape the peak?
(1) Weekly death cross?
Recently, I have seen many people talking about the BTC weekly MACD possibly showing a death cross and divergence in the next two weeks, forming a large structure top at the weekly level, or even directly peaking and entering a bear market; is it time to escape the peak? Right Right believes that the possibility of the MACD forming a death cross does exist, but it is more likely to be a large-scale inducement for shorts!
(2) Inducing shorts by dropping!
The cumulative volume of short positions in the short-term contracts is still over $3 billion; this piece of fat meat will not be cheap for the short sellers. Continuing to drop to induce shorts is more conducive to BTC breaking through historical highs. It may also first complete a death cross and then quickly form a golden cross.
(3) Federal Reserve interest rate cut.
The Federal Reserve is about to cut interest rates; it is just a matter of how many times. Wall Street capital is still buying, and the buying power in the spot market remains huge. In this sharp decline, we can buy the dip while others panic and I am greedy.
ETH
The current price is still within a downward channel, but the pullback amplitude and volume price are relatively gentle. Although ETH is slightly bearish on the 1-day and 2-day charts, the 5-day, weekly, and monthly structures are still in a bullish structure. As long as this downward channel can be broken, we will continue to look for new highs.
The support around the key level of 4000 is very strong. Breaking it down, the supports are:
1-day ema30: 4016; 3-day ema7: 4180; 5-day ema7: 4002
As long as these points do not strongly break down, shorts cannot be pursued. Currently, it is most appropriate to short around 4300, because those points that pull back to around 4k are very likely to bounce back up to 4300 or above.
In the short term, ETH only needs to keep one point in mind: do not short below $4,300 for now and do not go long above $4,280; otherwise, there won't be much of a problem.
Shitcoin
OKB has set a new historical high; today's high point is tomorrow's low point. I have repeatedly emphasized around 100 for you to get on board. Yesterday experienced a big correction; I made it clear in the group that this is an opportunity for those who haven't boarded yet.
1. The GAS of the Okx public chain is not ETH, it is $OKB. Whether trading, speculating on MEME, or other activities, it is necessary to hold or consume it.
2. Payment is not just about stablecoin transfers; it is similar to APPLE PAY, where you just tap your phone to the POS machine to make a payment, as shown in the picture.
3. OKX PAY is a level higher than crypto cards, similar to APPLE Pay's various cards.
4. Existing cryptocurrency users all have coins and have a demand for PAY; whoever can successfully PAY has a chance.
For this wave of OKB, outsiders are watching the excitement, while insiders see the subtleties! I will not add positions or buy the dip for OKB anymore; I just treat it as an ordinary coin! I hope everyone doesn't get carried away, although the probability of OKB cutting leeks is extremely low, caution is still the key!
Right Right has successfully taken down the 50x golden dog dogshit, initially participating in the private placement at 6u, which is now worth 300u, a fifty-fold increase, very comfortable. The OKB chain has started to explode completely, presenting the greatest opportunity. If you want to ambush the next 50x golden dog, you can follow me.
