The essence of trading is survival, and only then comes profit. So before each operation, think carefully about whether your actions are reasonable, whether your principal is safe. You need to form a trading philosophy that belongs to you, constantly optimizing and improving it. Although Old Wang's advice may not make you rich overnight, it ensures you will always have support. Only those who survive in the crypto world for the long term and persist until the end can achieve the results they desire. I hope you can understand.
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I am Old Wang from the crypto world, a warrior who has been protecting the retail investors. I wish my fans financial freedom by 2025. Let's work hard together!
Bitcoin (BTC)
The current price of Bitcoin is 110800. It is now 1:30 AM Beijing time. The highest K-line before the article was 113500, and yesterday's article clearly stated that if the market reaches the resistance level of 114000, it can go south. Now the market has also reached the trend support bottom of 110800, and profits can be taken. The space has exceeded 3000 points, and stable traders can exit, while aggressive traders can reduce their holdings. The daily K-line is very close to the Bollinger Band lower support at 109800, but has already reached the EMA120 support. The four-hour K-line has broken the Bollinger Band lower track, and the MACD bottom divergence continues, indicating that the market bottoming process has not yet ended. The EMA trend indicator is also alternating downwards, forming a strong bearish trend. Now we will see if the first support at 110800 and the round number support at 110000 can hold. Otherwise, there is a high probability of hitting the major support at 108200. Traders who are temporarily out of the market should not rush to enter northwards.
Short-term reference:
Northbound reference is 109000 to 108500, with a defense at 108000, stop-loss at 500 points, and target looking at 110000 to 110500. If it breaks, look at 111000.
Southbound reference is 111500 to 112000, with a defense at 112500, stop-loss at 500 points, and target looking at 111000 to 110500. If it breaks, look at 110000.
Ethereum (ETH)
The current price of Ethereum is 3918. It is now 1:30 AM Beijing time. The highest daily K-line before the article was 4158. Currently, Ethereum is still breaking the previous low. The daily line has reached the EMA90 trend support of 3917, and if it fails to hold, pay attention to the EMA120 support of 3718. There is a demand for a rebound in the short term because the main force has reached the trend support, and the Bollinger Band lower track has been broken. No matter how the market moves, it will ultimately return to the Bollinger Band channel. The four-hour K-line has been continuously diving down, and the EMA trend indicator is alternating downwards, forming a relatively strong bearish indicator. The MACD has continuously increased the short position, and with the lower track of 3965 being broken, all major indicators are expanding downwards. The market is still further declining. Thus, it can be judged that if 3917 is lost, the market will continue the bearish trend. Bears can continue to hold, and those who have not entered the market can pay attention to the short-term resistance level of 3965. If it retraces to the resistance level, continue shorting.
Short-term reference: Be sure to set a stop-loss; safety first.
Southbound reference is 3965 to 3995, with a defense at 4035, stop-loss at 40 points, and target looking at 3917 to 3875. If it breaks, look at 3825 to 3785.
Northbound reference is 3800 to 3750, with a defense at 3700, stop-loss at 40 points, and target looking at 3850 to 3900. If it breaks, look at 3950 to 4000.
Specific operations should be based on real-time market data. For more information, please consult the author. The article release has a delay, and suggestions are for reference only. Risks are borne by oneself.
This article is exclusively contributed by the crypto world scholar and represents the scholar's unique viewpoint. There is in-depth research on BTC, ETH, DOGE, DOT, FIL, EOS, etc. Due to the timing of the article's push, the above views and suggestions are not real-time and are for reference only. Risks are borne by oneself. Please indicate the source when reprinting. Manage positions reasonably and avoid heavy or full positions in trading. The scholar also hopes that all investors understand that the market is always right. If you are wrong, you should summarize where the problem lies. Do not let the profits that should be in hand fly away. There is no need to be smarter than the market. When the trend comes, respond and follow it; when there is no trend, observe and be quiet. It is not too late to act after the trend becomes clear. Tomorrow's success comes from today's choices. Heaven rewards diligence, earth rewards goodness, humanity rewards sincerity, commerce rewards trust, profession rewards excellence, and art rewards heart. Gains and losses occur inadvertently. Cultivate the habit of strictly setting stop-loss and take-profit for each trade. The crypto world scholar wishes you happy investing!
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