Advisor discusses hot topics:
It's Monday, let's talk about this week's news timeline. On Tuesday evening at 21:00, Federal Reserve Vice Chairman Jefferson will speak. His words might reveal how the Federal Reserve plans to proceed next, which could have a significant impact.
On Wednesday, there will be a G20 meeting where global leaders will discuss the economy, and the market will surely react. On Thursday at 2:00 AM, the Federal Reserve's beige book will be released, which may also bring uncertainties and could cause significant fluctuations.
Speaking of spikes, we must mention the current tailing market. Both low buys and high shorts must have stop losses set. Retail investors are getting confused, and the main forces may take advantage of the information to fluctuate.
Back to Bitcoin, it consolidated for a week last week and finally went up this morning. But don't get too excited yet because it's about to hit the resistance level of 88k, which has been firmly defended since March 24.
Over the weekend, a bunch of unknown altcoins suddenly surged like they were on steroids. On Monday, Bitcoin in the Asian session jumped over 2000 points again. The advisor thinks that since the U.S. stock market hasn't shown much improvement, this might be the Bitcoin circle's funds playing an internal cycle. Of course, this is just the advisor's personal speculation.
With the main force of Bitcoin choosing to break upwards this morning, the price has entered a strong fluctuation zone of 86.3k to 87.7k. If it can stabilize above 87.3 by the end of these two days, then 90k is likely to be stable.
Although it broke through the 86k resistance, the 5-day line and weekly line's rebound high points have moved down. If it can break through 88.8k, the upper limit high point will be 91k.
So only a breakthrough and stabilization above 91.7k counts as a trend reversal. If it stabilizes, it can run towards 95 to 100k. Last week, 86.4k was heavily resisted, consolidating for more than a week. This morning, after a rise in the Asian session, it needs to break through 88.8k and stabilize to reach 91k.
Now let's talk about Ethereum. The key point is to break through and stabilize at 2660. If it stabilizes, we can see 4k. In the first half of this year, it hit three peaks: 1912, 2112, 2320. So the road ahead is long; if the much-hyped upgrade can't support it, it might really fail in the short term.
Advisor views the trend:
Resistance level reference:
First resistance level: 88500
Second resistance level: 87700
Support level reference:
First support level: 86800
Second support level: 85800
Today's suggestion:
From a technical analysis perspective, a large bullish candle has appeared on the current chart, and the price has entered the overbought area. If you want to wait for a pullback before entering a short-term long position, pay attention to whether the overbought condition will persist.
The first resistance level at 87.7k is the first previous high in the dense area of previous price highs. If a pullback occurs, there may be an opportunity for a retest after breaking through. As for the second resistance at 88.5k, observe the adjustment strength within a shorter time frame to look for buying opportunities on the pullback.
If the price adjusts, the first support at 86.8 is the previous higher high area. Consider looking for entry opportunities in the range of 86.5 to 86.8k. However, this support level may not hold completely and could briefly break, so the adjustment range is roughly set around 86.5k.
The second support level at 85.8k is the high point of last week's consolidation and can serve as a key support reference. If it falls below this level, market sentiment might turn bearish.
4.21 Advisor's wave segment preset:
Long entry reference: not applicable
Short entry reference: light short in the range of 87700-88500, target: 86800-85800
