BTC Breaks 100K
The price of the cryptocurrency has once again broken the 100,000 mark, with high positions set for a waterfall! 1.7 Big Cake Aunt's Trading Ideas
From a technical perspective, Big Cake has seen seven consecutive green days on the daily chart, with a solid bullish candle closing this morning. The price has once again broken through the upper Bollinger band, which has reopened after a contraction. However, the fast line of the KDJ indicator shows signs of slowing at a high level, while the MACD shows a golden cross with increasing volume! The daily trend is strongly bullish, but since it has broken above the upper Bollinger band, a correction or pullback is expected!
The spot ETF market has also seen limited capital inflow, with only MicroStrategy increasing its holdings by 20 million. After a high surge, US stocks have retraced most of their intraday gains, suggesting a higher possibility of bearish pullbacks! Therefore, for intraday trading, Conan recommends mainly shorting at high positions! Key resistance levels to watch are 102,800, 103,500, 104,000, and 105,000, while support levels are at 101,000, the 100,000 mark, 98,700, and 97,200.
1.7 Big Cake Trading Ideas: Enter the first short position in the range of 102,000-102,500, add to the position around 103,500, and set a stop loss near 104,000 (adjust reasonably according to your own position). Target around 101,000-100,000; if broken, hold for 99,000-98,700.
Long Position Strategy: Try to go long near 99,000, with a stop loss of about 500 points, targeting around 99,500-100,000; if broken, look at 101,000.
1.7 Ethereum Trading Ideas: Aggressive traders can short near 3,700, while conservative traders can enter around 3,730-3,750, with a stop loss above 3,780 and a target of 3,650-3,600-3,570; if broken, target 3,550-3,500.
Long Position Strategy: Try to go long near 3,500, with a 30-point stop loss, targeting around 3,550-3,600-3,650.
The last time it broke 100K was driven by capital, but this time it is mainly due to increased holdings from US stocks and MicroStrategy, which is also driven by capital. Without continuous capital injection, it will be difficult for the bullish trend to continue. Conan believes there is an opportunity to take a medium to long position short. Everyone can enter their first position according to the strategy!
