April 23, Wednesday night 23:20

BTC, ETH insights

For those who are stuck in positions, I will share some market insights and thoughts on how to get out of these positions tonight.

BTC

From yesterday's US stock market opening around 886 to this morning's rise to 945, the only explanation could be related to the China-US trade war, where Trump has made some concessions, believing that the tariffs on China are too high, which will significantly lower and lead to a drop in gold prices, causing the US stock market to surge. The current crypto market is also almost entirely influenced by the US stock market, following market sentiment and making a strong upward movement.

It has been a nightmare for many friends holding positions, and unfortunately, we are among them, stuck around 906.

From the market perspective, currently, the resistance at 950 remains very strong, while further up is the resistance at 968, so the liquidation position for those stuck must be at least above 968 to be considered relatively safe. The support below is at 920-913-905. If the four-hour level breaks below 920, then the issues with our positions should not be too significant. (If it drops, do not hold on to any false hopes; it's better to withdraw, even if it means taking a small loss.)

For those in cash, just patiently wait for a retest near the second and third support levels for reference.

ETH

The strong support above is at 1840, and further up is at 1910. The liquidation for those stuck needs to be above these two levels; it seems strong when it wants to be weak, and weak when it wants to be strong, and I plan to temporarily abandon it for a while.

The support below is around 1750; if the four-hour level breaks below 1750, there might be some continuation for those holding positions, with further support around 1695. I hope it can slightly dip downwards to help everyone get out of their positions.

Don't be anxious about being stuck; let time solve it. It's normal to feel uncomfortable for a few days, but it doesn't necessarily mean you can't get out. #加密货币总市值重回3万亿