Since yesterday when Trump caused a stir, the large coin has not been in its original perfect state. A large bearish candlestick has directly retracted the gains from the day before, which has forced us to postpone our bullish plan. This is a bearish engulfing reversal signal, but fortunately, the structure has not been damaged. There are also signs of a stop in the decline on a smaller time frame. There are about three days left for the trend to push. Whether the large coin can regain a strong position, we will wait and see.

Looking at the 1-hour chart, the initial pullback has shown signs of stopping the decline, and it is currently in a rebound. However, the trading volume below is relatively sluggish, so the subsequent rebound is likely to be weak, or rather choppy. As long as the rebound does not break this neckline (109739), it will not be able to stand on a strong position and will have to go down again. If it breaks below the support around 107000, it means there is no sign of stopping the decline. Conversely, if it stands above the 109739 area, it can attempt to look up to 111000.

The technical indicator KDJ on the 1-hour chart is about to enter the overbought zone. If there is a wave of consolidation around 109000-109700, there is still a chance to continue upward.

Opportunity reference

If aggressive, shorting around 109700 is still a try, with a stop loss at 111000 and a target of 107200-106300.

For long positions, it is safer to wait for the 4-hour chart to stand above 109700 to enter, or to have a bounce back to 106300 without breaking before it is an opportunity!

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