After Bitcoin plunged to 106,300, it rebounded, and Ethereum surged after dropping to 3,680. In the last 24 hours, a total of 249,125 people globally were liquidated, with a total liquidation amount of $1.104 billion. The extreme fluctuations over the past four months are suitable for range trading, while trend trading will be repeatedly worn down. Pay attention to reversals when breaking below the range bottom, and watch for changes in the range. If it stands above the range, remain bullish.
Bitcoin dropped below 108,000 at one point in the early morning, plunging near 106,300. The liquidity within BTC 108,000 was quickly taken by the main players. Currently, the weekly MACD for Bitcoin shows a top divergence and is in a downtrend, and the decline is far from over.
The daily bearish volume has not shown main strength and is not considered absolutely strong. In the short term, it should stop falling and rebound. The amount of buy orders on the order book is relatively small, but sell orders have almost disappeared. There is a high probability of a rebound.
(1) The daily chart has repeatedly bounced back near the support level of 106300, and there is currently a W double bottom formation.
(2) Resistance levels: 111300-111800, 112500-112800, breaking through next week has a high probability of pushing above 115000.
(3) Buy when retracing around 108800-108300, defend at 107800, aim for targets around 110300-110700.
ETH plummeted to $3680 in the early morning, repeatedly bouncing back below 3680, indicating strong support below. Moreover, in reality, it hasn't even broken above 3800 with a solid line, $ETH here can only be regarded as a bottom rebound for me personally, with the potential target set first at 3830 - 3950.
Conditions for ETH's structure to shift to an upward trend——
1. The price will subsequently create a "higher low".
2. "Indicators below cross above the yellow line, and when retracing, do not fall below the yellow line."
Buy when retracing around 3780-3750, defend at 3720, aim for targets around 3830-3950, if broken, look at 3965-3995, do not break, take short.
The last drop in the liquidity vacuum period | Interest rate cuts ≠ injecting liquidity, a real bull market will have to wait for QE to restart!
Interest rate cuts did not lead to increases, but rather a partial decline, which is a typical feature of insufficient liquidity after the 1011 crash:
The market originally expected "interest rate cuts + liquidity injection", but the result was just "interest rate cuts + waiting period", and liquidity did not immediately flow back, instead trapping the market in observation and uncertainty. Because although interest rate cuts theoretically benefit asset prices, the market often requires a clear liquidity injection to truly turn around.
Yesterday was obviously a signal for the Federal Reserve to slow down tightening, and it hasn't started to inject liquidity yet; on another level, the Sino-US trade talks are just easing trade tensions, and confidence hasn't recovered. So, at this moment, I believe we are in a liquidity vacuum period, and Crypto can only continue to bleed.
Old K only does real trading, and the team still has positions to take advantage of the speed.#币安Launchpool上线KITE
