The overall volatility on Tuesday was not large, and the short-term fluctuation range was only a few hundred points. This rhythm is very suitable for short-term trading. The long position prompted in the morning was basically the lowest position. There was basically room for long positions twice at 28,200. Although the volatility of Ethereum was not satisfactory, it was still successfully won. This rhythm is still the same. The point is more critical, but following the trend to go long will basically not give you a chance to exit. It is just a matter of space size. The overall volatility is still in line with expectations. At any time, as long as you enter the market, you must be as confident as a warrior, instead of persisting in tears like a sinner!
From the technical structure point of view, after the rise on Monday, the short-term is still sideways at the starting point. This is not optimistic for the bulls for the next trend, but because the room for the bulls to be pushed by the news is indeed too large, it is normal to need time to repair and fluctuate. This is like building a building on the beach. No matter how high you build it, the foundation is unstable and it will eventually collapse. In other words, the more volatile it is now, the more optimistic the future development of the bulls will be. The standard oscillation rhythm of the hourly line, back and forth between the upper and lower tracks, is the standard correction of the unilateral trend. Today is Wednesday morning, and we will still follow the long layout for the time being. We will consider changing direction based on the continuation strength on Wednesday and Thursday. If there is not too much continuation or too much retracement, we can follow the short again.
In the early hours of Wednesday morning, I personally suggest that Bitcoin fall back to around 28200-400, with the target at 29000!
In the early hours of Wednesday morning, I personally recommend going long on Ethereum around 1570, and the target can be around 1620!
