Brothers, good afternoon! Last night, Market B experienced a delightful surge, especially ETH which performed exceptionally well after a long period of dormancy, finally having its moment. The price just touched the maximum resistance level and then started to pull back. However, brothers need to stay calm, as this trend is likely just a bottom rebound, so do not be overly optimistic too soon. From the daily perspective, after the price drop last week, it underwent several days of consolidation at the bottom. This prolonged bottom consolidation is worth our close attention; when at a major bottom and the smaller time frame is in a downtrend, it’s best to avoid aggressive shorting, or it could lead to passive losses.
Many brothers feel that the market seems to have a 'manipulator' intentionally targeting large whales for liquidation operations: prices drop when going long and rise when going short, as if their trading actions are being closely monitored by the manipulators. Isn’t this scene reminiscent of when they are opening positions? In reality, this is due to not having a grasp on the market rhythm, leading to misjudgments about market trends. Take the analysis from Qianshan for example; as long as one watches and learns attentively, one would not blindly go long at the top, thus avoiding the fate of liquidation.
Next, let's review this market trend together. After a significant price increase, chasing long positions at the top is clearly a manifestation of FOMO (fear of missing out). After last night's long position liquidation, there was a hurried switch to short positions, right at a major bottom area. Is opening a short position at the bottom not eerily similar to what one used to do? Many people frequently switch between long and short positions daily, getting lost in candlestick movements, eager to capitalize on every fluctuation. However, only those who truly understand how to analyze the market can possess insights akin to a god's perspective. Those who only know how to blindly trade long or short are undoubtedly the 'retail investors' in the market. Even well-capitalized whales can struggle in the market, let alone ordinary investors. Therefore, brothers, you must take time to reflect, review, and summarize.
Given that prices have already surged overnight, the likelihood of a pullback in today's smaller time frame is high. When prices hit the bottom support and cannot continue to drop, there is still a possibility of a rebound in the smaller time frame. For intraday operations, focus on the top and bottom of the daily horizontal range.
BTC resistance level
106400, 107800, 108800
BTC support level
103800, 103000, 102000
ETH resistance level
2628, 2648, 2678
ETH support level
2555, 2515, 2475
SOL resistance level
162, 165, 169
SOL support level
155, 151, 147