Bitcoin (BTC) trend line destruction
Key trend line: the rising channel connecting 74500-98200-113000 was confirmed to have broken on August 18!
Short-term support: The 6H level EMA200 moving average is supported, temporarily halting the downward trend, but the rebound momentum is insufficient and needs time to gradually recover. Then, it will continue to decline to find the bottom for adjustment!
Where to take profit on the long positions from the rebound, where to enter short positions, as a savvy trader, you should know at a glance from the chart. Calculating where to take profit on the downside is necessary!
Although I have long understood, I have chosen to remain silent now.
Ethereum (ETH) key position attack and defense review
1. Analysis of the loss of support at 4320
Bull-bear dividing line: 4320 serves as the last defense line for the upward structure of wave 5. Breaking here officially announces the end of the small-level 5-wave upward. The subsequent move depends on whether the market maker gives you an M-top and finally a big wave!!!
The first time reaching here at 4320, no matter how it goes, I must get long positions. What I didn't expect was that the market maker dropped two structural points straight to 4225.
The moment the K-line hit 4225, I understood. At 4225, it was even more impossible to cut losses at the bottom. In fact, I was a bit scared at that time; there was only one support left at 4180!
My position in the account is very light. If it is a fixed ratio mode, the liquidation price is around 4000. However, there is a problem here: there are many following trades, some with 10U. I remember I had moved out some 10U users, and the amount difference is too large, making it hard to adjust the position.
Yesterday at noon before I went to bed, the price was closing at 4320 on the hourly chart, so I was relatively assured to sleep, and then I canceled the hard stop loss at 4300. I was worried that the market maker would spike down and sweep before pulling up in the afternoon! I've been caught in such stop-loss sweeps many times!
Breaking below 4320 down to 4225, then rebounding back to the 4320 area, once hitting 4320, it retreats 70-80 dollars. This market is very simple, testing support and resistance. This position changes from original support to resistance, switching between support and resistance.
When I got home in the evening, I drew this sketch. The time is in the upper right corner, and there are small-level trends. Are you watching if it is moving in a sideways trading range? I drew this chart before the K-line broke out! I don't even need to analyze where the range is using the breakout K-line.
I also shared with my friends who are familiar with my coins, but I don't want to post it in the plaza! The verbal attacks are too heavy; I can only earn! I can't afford to lose! I can't do that, I'm not a perpetual earning doctor!
But I have an idea, and I am confident to fight back, although this is not advisable.
Prediction of the oscillation range
The current range of 4289-4395 has been formed
3 effective tests of the upper edge (4395)
2 times back to the lower edge (4289)
Meets the characteristics of bottom formation after "2-3 waves breakout"
So, do you see the market is in a sideways range here, moving within the oscillation range I drew? Just short at the top and long at the bottom to squeeze the market maker, leaving the last position waiting for the pull-up!
Big pie, second pie. Today, I got in on the second shot in the morning!
