$BTC Pre-Sleep Insights
The market is in a high-level sideways consolidation, note that it is a high-position sideways fluctuation without direction, with a focus on going long in smaller timeframes. Key technical points are the 4H and daily/weekly charts, which show sideways movement, while the 1H and lower timeframes should focus on going long. The left-side previous highs are 110600 and 112000, which have a probability of reaching these two levels. The long/short boundary for 1H is 108500; if it breaks below 108500 and does not return, then one should go short. However, if it breaks below and then comes back above this price, one should abandon the short position and maintain a long position, or stay flat and not trade. No short positions should be taken unless this level is broken.
The key points for Ethereum are at 2550 and 2525; as long as these stop levels are not broken, the focus should be on going long.
Follow the trend; the trend is king. This rise is occurring in 1H and lower timeframes. Currently, do not have too high expectations; the risk increases as the price rises, and of course, do not shy away from going long just because the price is high, and definitely do not easily go short. Just remember the key positions.
Always prioritize risk; when you ignore risk, it is the beginning of destruction. Stay cautious.
In summary: the direction for 1H and lower is long, but the position is not ideal. Enter when there is a correction to the right level in smaller timeframes, and always set a stop loss. If a key position is broken, then change the trading strategy.
Personally, I am currently holding a BCH short position with a good stop loss. Good night
