April 16, 2023, Trading Ideas for the Day
BTC Brothers and Sisters! Good afternoon, everyone! Basically, I post twice a day to help my brothers find direction for their trades! I mentioned in the post made at midnight that 83500 and 83000 are the two support levels, and one trade broke below 83000! The market might further dip to around 81800 and 81500! Recently, fans have been saying it's hard to make trades! The market has been fluctuating in the last couple of days, rising slowly and falling quickly! But it always drops to near the support levels and then continues to rise. When trading, don't get too caught up in the price action; if you can secure a 50% profit, you should take it! Back to the market, we are currently in a 4-hour downtrend channel; as long as the 4-hour close remains above 83000 and 83500, we can expect a rebound! Only if it stabilizes at 84500 will the rebound strength be significant! Otherwise, it will continue to fluctuate downwards! If the 4-hour rebound does not reach 84500, then we can consider entering a short position! Take profit at 83500 and 83000! If it breaks below 83000, wait for long positions near 81500 and 81800 to enter!
ETH Currently, Ethereum is also trending down. I mentioned in the post made at midnight that the support level is 1610; if it breaks below, enter short! The rebound at the 4-hour level can only gain strength if it stabilizes at 1610! If it fails to stabilize at 1610, the market will continue to test 1550, 1500, and 1480; wait for long positions at these price levels!
SOL Solana has consistently been emphasized as performing better than Ethereum! It has also been very strong lately! The market is identical to Bitcoin's! The short-term rebound is first looking at around 128.8; only if it stabilizes will the rebound strength be significant! The resistance levels ahead are 130, 135, and 140! The support levels below are 125 and 120! Long positions should continue to enter here!
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