Data Analysis:
After last night's decline, the bulls faced a round of liquidation, and the overall market is currently dominated by bears.
Bitcoin's current price is $118,000. If it rises to $120,000, it is expected to liquidate about $1.595 billion in shorts. If it falls to $116,000, it is expected to liquidate about $1.684 billion in longs.
Ethereum's current price is $4,540. If it rises to $4,640, it is expected to liquidate about $1.3 billion in shorts. If it falls to $4,440, it is expected to liquidate about $800 million in longs.
ETF Fund Flow (Yesterday)
BTC Spot ETF: Net outflow of $174 million
ETH Spot ETF: Net inflow of $63 million
Market View:
Market Direction: Fluctuating sideways. From the current market trend, the overall market and Ethereum on the 4H chart are still in a fluctuating sideways pattern. The main decline was due to the U.S. Treasury Secretary Yellen stating last night that cryptocurrency reserves will not be purchased and that confiscated assets will be used for reserves. She later clarified, which misled the market and triggered panic selling, leading to a rapid decline.
I personally believe that with the decline in the overall market and Ethereum, it is actually a good time to enter the market with spot purchases, especially in popular and highly liquid mainstream coins, because there were not many opportunities to enter when the overall market and Ethereum were rising. This decline allows for buying opportunities, while contracts should still follow a conservative route, focusing on segments or short-term trades, waiting to see how the overall market and Ethereum will move after the trend changes.
Daily Analysis:
BTC short-term focus is around 116,000 below, and around 120,000 above.
ETH short-term focus is around 4,450 below, and around 4,650 above.
SOL short-term focus is around 186 below, and around 198 above.
Contract Strategy:
BTC is advised to go long around 117,000 if it declines or to buy on dips.
Take profit at 118,000, 119,000, 120,000, stop loss at 116,000.
Conversely, it is advised to go short around 119,500 if it rises or to sell on highs.
Take profit at 118,500, 117,500, 116,500, stop loss at 120,500.
ETH is advised to go long in the 4,480 range if it declines or to buy on dips.
Take profit at 4,530, 4,580, 4,630, stop loss at 4,420.
SOL is advised to go long around 188 if it declines or to buy on dips.
Take profit at 192, 195, 198, stop loss at 186.
Conversely, it is advised to go short around 197 if it rises or to sell on highs.
Take profit at 194, 191, 188, stop loss at 200.
Friendly Reminder: Focus on light positions and low leverage, don’t be greedy, secure profits, better to take small losses than to hold losing positions!
