Hello everyone, welcome to Wanqian's Trend Discussion. We focus solely on the trends of mainstream coins. The research on left and right-side trading models, as well as the understanding of medium to long-term and short-term fluctuations, will be continuously updated. Thank you all for your attention. In the crypto world, where some are laughing, others are crying; I hope everyone is among the former!
$BTC First, let's take a look at Bitcoin. At the moment, it is roughly in line with our expectations from yesterday. This wave could potentially experience a downward fluctuation, but we need to see a breakdown below the previous low, which means another sharp drop, breaking the previous low and then slowly moving upwards. As long as the new low that comes down this time is higher than the previous low, the next wave could rise to a new high, and a local N-shaped structure would emerge. Once this action occurs, we can judge that the market is heading towards the previous high again. At this stage, you only need to know that the overall trend has not changed, and short positions should be avoided as much as possible.
$ETH Let's take another look at Ethereum. The price is still accurately testing around 3900. Whether it can continue to break upward is uncertain, but we have achieved our three targets. When we reach the upper resistance level, we still need to short it. If the market provides some short opportunities, we must seize them. At this point, I wouldn't recommend chasing it further; the target space is very narrow, and the profit target and stop-loss levels are not on the same plane, making it unnecessary for bulls at this moment.
In the crypto world, it is a competition between retail investors and whales. If you do not have cutting-edge news or first-hand information, your starting line is not equal. All the efforts are just a means to help more people learn to trade and to teach them how to fish!
The article is time-sensitive, and the market changes rapidly. The actual market is the priority; the above suggestions are for reference only!
Investing involves risks, and one must be cautious when entering the market.
