Whether going long or short, there is a possibility of making money, with the exception of the greedy. To invest, one must block excitement; at least do not get excited at the wrong time. Emotions play a crucial role in all trading.
Hello everyone, I am Trader Ge Ge. Continuing from last time, Bitcoin had a strong V-rebound on Monday, testing the 106000 level again, returning to last week's levels. Perhaps some will sigh that the price hasn't changed and there's no position left. Trump knows how to play; the US stock market was closed over the weekend, dropping bombs, and on Monday, Israel announced a ceasefire, with military expenses being paid by the crypto community. The news about fighting is truly unpredictable; it can stop at any moment or escalate. Those official statements are often vague. In the end, the crypto market is simply too small; it is a strong manipulated market, and the cost of manipulation is low.
There is an expectation for a rebound in the market, but it has exceeded expectations. However, the long position mentioned earlier has yielded good results. Let's continue discussing the market technically. Bitcoin and the weekly chart of Ethereum have reached the key position mentioned yesterday, so we need to observe whether it can break through and stabilize. The daily level for Bitcoin has closed with a solid bullish candle, testing near the mid-line, which is also close to last week's continuous downward opening. This is a point that needs attention in the short term. A market rally combined with news needs correction and adjustment to be a healthy trend. If it continues to rise without adjustment, the bullish trend won't last long; this is a technical view. Of course, there's also a scenario where the main force is watching the market with severe bearish sentiment, strongly pushing the price to wash out some bullish positions, which is also a possibility. Therefore, medium to long-term players should observe more in the short term.
The 4H level candlestick chart has continuously closed with high-position doji candles; this line of resistance can be referenced for now. As for the support below, since it has returned to previous levels, the previous short-term support can also be referenced. There isn't much to say about the technical aspect for Ethereum; after such a rise, although Ge Ge interprets it as strong technically, there is also a chance for correction. So let's wait for the market to move for another two days before making a detailed estimate.
Short-term for Bitcoin: short at 106000-106600, long at 103500-102800, looking at 2000 USD.
Short-term for Ethereum: short at 2460-2480, long at 2350-2320, looking at 100-120 USD.
The advice is for reference only; ensure risk control when entering the market. Profit margins and stop-loss spaces should be managed by yourself, and specific strategies can be consulted on-site.
Alright, friends, we will say goodbye until next time. I wish everyone to do better and better, and may your future in the crypto world be bright and smooth sailing! More real-time advice will be sent internally. Today's brief update ends here.
Article by Trader Ge Ge: A friend willing to accompany you for a comeback.
