Investment, like life, is constantly facing choices. Many times, making the right choice is more important than effort. When the choice is right, the path is smooth; what remains is to stick to your choice and not waver, nor give up halfway. Therefore, correct choice + persistence in your choice = success.
Hello everyone, I am Trader Gege. Continuing from the last article, regarding the predicted trend, the drop in Bitcoin has exceeded expectations, and the reason is likely known to everyone, which is the attack by YI. After two days of digestion and correction, the market has rebounded, and it is gradually stabilizing. Bitcoin's drop has held the defense line of 102000, and today is the weekly close, so I will briefly talk about my views on the weekly line.
The weekly K-line for Bitcoin closed with a doji, although it is above the MA7, the overall structure poses certain risks for bulls, especially since the previous double top structure still exists. Therefore, in the coming week, we need to pay attention to whether the MA7 can stabilize; if it cannot hold, the market will test the 100,000 threshold again, and if it breaks, it will continue to test near the mid-band. This week, bulls should be cautious, observe the key levels more, and then decide whether to take action.
On the daily level, the market fluctuates back and forth within the Bollinger Bands, and the current Bollinger Bands are in a flat phase without opening, so for now, we can rely on the upper and lower bands for entry. It’s still the same thought as before; due to the respect for previous high resistance, we should avoid chasing the rise, and maintain a low buy and high sell short-term rhythm until the structure is completely broken before adjusting our thoughts.
Looking at the 4H level, the market has repeatedly tested and received support near EMA200 below, so it can still be referenced in the short term. Once it breaks, we need to refer to the support above the 100,000 level. The weekly level of Ethereum touched the previously mentioned MA60 but did not break through; instead, it was blocked and pulled back, so the key weekly position can continue to be monitored. From the perspective of the smaller cycle, the market has returned to the previously mentioned box structure, so in the short term, we can continue to reference the upper and lower edges of the box for entry. Be cautious, if the upper edge is once again broken, we need to pay attention to the resistance of the previous high.
Bitcoin short-term: Buy at the line of 104600-103800, target 2000-3000 USD. Sell at the line of 108300-109300, target 4000-5000 USD.
Ethereum short-term: Buy at the line of 2510-2470, target 80-100 USD. Sell at the line of 2680-2720, target 100-150 USD.
PS: Strategy activation is only used once.
The suggestions are for reference only. Enter with proper risk control, manage your profit and stop-loss space on your own, and specific strategies can be consulted during trading.
Alright, friends, we have to say goodbye until next time. I wish everyone prosperity and smooth sailing in the crypto world! More real-time advice will be sent internally. Today's brief update ends here. For more real-time advice on Bitcoin and Ethereum, find Gege.
Article by: I am Trader Gege, a friend willing to help you rise again.
