The ETH range from 4650 to 4150 has perfectly captured a 500-point gain. First, congratulations to those who, like me, held on!
Next, we will open a swing long position here despite the heavy selling pressure. A position has already been established at 4150. We will decide on the additional position based on the extent of the washout!
ETH is still in a daily level correction, with a wave target of 4150 below!
Currently, although the low has rebounded over 100 points, it is considered a relatively weak rebound under the current circumstances. Therefore, the next step is still to do a short position on the rebound.
Focus on the 4330 level today. Once it rebounds to this position, just short it. Below, watch for 4250; if it breaks, then look for 4150!
BTC provided a rebound expectation of 2000 points in the liquidation area yesterday, and many were able to capitalize on it!
After rebounding to a high point, BTC tested the weekly support at the 114300 area again and is currently experiencing a rebound at the hourly level, but the rebound strength remains weak, with continuous selling pressure above that has not been effectively digested.
For today's rebound, first pay attention to the 115600 area; once reached, it is advisable to take a small defensive position for a long trade. Below, first look at the 114200 area; if broken, watch for 112500.
It is important to note that if the long position at 115600 gets swept, the next short position can only be considered above 116700.
The swing chart of ETH has currently reached a low of 4224, just one step away from 4150!
During this period, it has also been consistently suggested to watch the chart. Making trades is actually very simple; after setting proper expectations, achieving significant results is inevitable!
ETH dropped to a low of 4417 during the early morning, and the intraday direction given yesterday provided a comfortable 160-point space.
Currently, the overall direction for ETH remains unchanged; we can look for short positions on rebounds. The resistance at the 4580 area still presents an opportunity for a short.
If you want to go long, pay attention to the 4430 level, where you can attempt a small short-term long position (not recommended to operate without a swing short position).
The weekly line is about to close, be careful of false bullish traps!
BTC rebounded to 118,500 under low liquidity over the weekend, and then fell all the way down to 117,200, indicating that the buying pressure has not yet absorbed the selling pressure.
So the next step is still to make a rebound, but the resistance area above needs to be adjusted slightly upward. The high point of Sunday’s rebound at 118,500 has accumulated a lot of liquidity!
Therefore, the next step is to make a rebound in the 118,500-119,200 area, while the lower target remains unchanged, looking for a break at 116,800 and then at 115,600.