Short positions profit every day, starting from 110,000 and 2,850, with both adding and reducing positions not fully exited, the pattern is clear, and by the way, taking some short-term longs, the current market is all about shorting at highs.
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Ethereum is currently oscillating in the range of 2485-2583, with a larger range of 2433-2680. At present, the rebound strength is relatively weak, and the probability of a downward movement is quite high. If it breaks below 2433, a significant drop will occur. Here, I see a greater probability of a downward breakthrough. Try to open positions at the top or bottom of the range, as it is easier to make the right move.
The Ethereum daily chart is in a consolidation zone, this area belongs to consolidation. 2670 is the breakout point, so the upper level is 2670 on a small scale, and the bottom is the range's low. Personally, I subjectively lean towards a consolidation followed by a breakdown, going bearish, but this daily bearish scenario doesn’t hold if it doesn’t break the level. In terms of operation, if you're short at a high position, reduce your position and just wait, then profit from the breakout. If you can’t withstand the profit giving back, close everything. For the short term, it’s just range consolidation, and you just need to mark the highs and lows. Bitcoin, the daily chart is also at the bottom of a box, but this is different from the last time. My own trading method here is that I cannot heavily invest in long positions anymore. For the daily trend here, you must wait for a bottom; otherwise, there will be no trend continuation, and it might just shake down. On a smaller scale, just mark the range, within 1-2 days, it should be suitable for short-term trading without stop-loss, both long and short trades can be executed. At the end, when the trend emerges, any incorrect position must be cut, otherwise, you will be holding onto a losing position, which is unsustainable.
The weekly chart shows a bearish divergence in MACD for 2021, with a projected decline of over 50%. The main force has already distributed multiple times in the 106000-110000 area. The current rebound is a B wave rebound, reaching around 106000, followed by a larger C wave decline. The shorting point for BTC can be at 105900, and for ETH it can be at 2544. Currently, the strategy is to invest at high points for shorting. There will be a significant drop this month, expected in the middle to late part of the month.
Btc Analysis 1: The false breakout of the previous low support at 100700 was quickly reclaimed, and we are currently close to the previous low. Pay attention to price action.
2: Key support has been broken. A rebound stabilizing above 103000 is necessary to confirm the end of the short-term pullback; we still need to wait for the left-side bottom.
3: A valid drop below 100700 enters a vacuum zone. The downward target is 97000.