6 / 9 Daily Trend Analysis
Today's market greed and fear index is 55, the greed index is flat compared to yesterday, and the market sentiment is currently in a slightly greedy state.
Looking back at what was mentioned in last Friday's analysis regarding the weekend market, the big coin and the small coin will slightly trend upwards, and sure enough, the small coin has ended with two upward candles, with the big coin rebounding up to 2500 points in the last two days. The rebound of the small coin is slightly weaker than that of the big coin, but it is still at the support level on the daily chart.
Current trend, BTC and ETH have rebounded after two days of market activity over the weekend, and they have now returned to the position before last week's sharp decline. The primary focus is on positioning ahead of Wednesday's CPI data release. It is now clear that a rate cut this month is impossible; the question is whether there will be a spike before the data is released, and then a significant drop after the negative news is digested.
Point Analysis
Today's focus is on BTC:
Upper resistance at around 106400 to 106700 as the first and second resistance levels.
Lower support at 105150, down to around 104700 as the first and second support levels.
(The bearish trend continues, primarily short positions; place orders at the first and second resistance levels, and set stop-loss at the second resistance level approximately 400 points above.)
Today's focus is on the small coin: 2525 and around 2540 as the first and second resistance levels.
Lower resistance at 2470, down to around 2415 as the first and second support levels.
(The bearish trend continues, primarily short positions; place orders at the first and second resistance levels, and set stop-loss about 20 points above the second resistance level.)
Summary: My personal view is that the short positions continue, waiting for a rebound opportunity to maintain short positions; we are currently in a large cycle of high volatility. Try not to chase the market now, focus on placing limit orders, so the emphasis is still on small fluctuations. Don’t get caught up in the big picture; secure profits when possible.
