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The current market is dominated by bears, 🈳 momentum continues to strengthen, and recent support from below is insufficient. The lower band of the Bollinger Bands is unlikely to provide effective support for price pullbacks, which means the current bulls. The rise may only be a temporary rebound, lacking a solid foundation for sustained upward movement. Bitcoin 95100🈳, looking down to 93000#比特币战略储备
Tonight, the big non-farm payroll data and April unemployment rate will be announced. It will be a competition between bulls and bears to see who can laugh heartily tonight!
Tonight's non-farm data: previous value 22.8, expected value 13; unemployment rate previous value 4.2% expected 4.2%
The announcement of data significantly larger or smaller than the expected value will cause considerable volatility.
If the unemployment rate rises while non-farm employment declines after the announcement, it will further strengthen recession expectations. If everyone bets that interest rate cut expectations will decrease significantly, there will be considerable selling pressure, and BTC will experience a significant drop! (A chance for redemption for the bulls!)
If the announced data shows stable unemployment and stable non-farm employment, expectations for interest rate cuts will slightly decline, and BTC will also drop, but the extent will not be large.
The ADP data on Wednesday currently serves as a hint. If tonight's non-farm data continues to fall short of expectations, it will follow the same logic as before, and a decline in non-farm employment corresponds to a rise in the unemployment rate. Therefore, as long as the data announced tonight is bad, the bulls can relax for once.
This is also the logic I laid out for the bulls in my previous writings. Additionally, regardless of whether the evening data is good or bad, it cannot avoid the situation of sharp price fluctuations, so short-term strategies still need to have necessary defensive operations!
No matter which side you bet on, I wish everyone prosperous financial luck! #加密市场反弹
On the first day of the May Day holiday, the market experienced a new surge. The price of Bitcoin momentarily broke through multiple levels of resistance, soaring to around 974, causing yesterday's short sellers to become fuel for the market.
Currently, the bulls are strongly pushing up. In terms of technical patterns, there is a rise followed by a pullback, with short-term pressure around 975. On a larger scale, there was a significant bullish candlestick closing, marking a new high, indicating a strong trend. Therefore, in this context, it is advisable to follow the trend and go long, with a focus on the support level at 960. If it cannot effectively break down, we can rely on this area for support.
Trading Suggestions Look for Bitcoin around 963, with a target at 975. If it breaks through, aim for 985. If it does not break 975, consider going short.
The polarization of the counterfeit market is becoming increasingly evident, with hot coins and valuable coins constantly rebounding, while junk coins linger at the bottom, falling rather than rising. This bull market does not mean that all coins will rise; today, the cryptocurrency space is severely polarized. The current market is different from the bull market of 2020; do not expect a deep pullback and a rally of all coins; the market will not simply replicate itself, and the major players will not follow the old playbook. As the old saying goes: no one can step into the same river twice. Many people fixate on appearances and fail to see the essence. The cryptocurrency space will always follow the 80/20 rule; if you do not understand this, you will never grasp the logic behind the candlestick charts. Many people make a little money and think they have truly seized the opportunity, beginning to fantasize about getting rich, blindly increasing their positions, and falling into greed. But behind the madness of the cryptocurrency space is a tragedy of scattered feathers, which simply goes unnoticed. True wisdom lies in seeing the truth within the tragedy. Now that the market is hot, what we care about is not when to enter, but how to cope with the bear market after the bull market and how to identify the real opportunities for the future. Only by looking far, thinking deeply, and being grounded in the present can one stand firm in the cryptocurrency space and walk steadily and far. Do not only focus on the ups and downs in front of you; view the present with a 5–10 year perspective; otherwise, the market can catch you off guard at any moment. The stories of the cryptocurrency space always cycle through joy and sorrow; today, ask yourself if you are listening to someone else's story or telling your own 'incident.' We cannot control how the market moves, but we can be 'slippery': If the bulls are strong, go with the trend; if the bears are fierce, avoid risks decisively. Earn the money you understand and are most confident in; just take your own bowl of 'soup.' #加密市场反弹
The technical analysis shows that the current position is in a high-level fluctuation, with the candlesticks frequently showing long upper and lower shadows, indicating an unclear direction for bulls and bears. Although the MACD is in the negative zone, it has begun to converge, suggesting a weakening of bearish strength, and a rebound may be on the horizon. It is recommended to first go long and then short, while paying attention to opportunities for selling high and buying low.
For Bitcoin, consider going long around the 960-950 range. Target around the 940-436 line. For Ethereum, consider going long around the 1850-1830 range. Target around the 1780-1740 line. #Strategy增持比特币
Based on the current market situation, the four-hour level shows a large bearish candle breaking through the middle band of the Bollinger Bands. The KDJ indicator has formed a death cross at this level, indicating a downward trend. Overall, the market is gradually weakening, and bearish momentum is beginning to diverge. From the one-hour level, the market shows a four consecutive bearish candle pattern that paused after breaking through the lower band of the Bollinger Bands. The KDJ indicator also shows strong bearish strength. All three lines are at relatively low positions, especially the J value, which has dropped below 30, nearing the oversold area. Although there may be a technical rebound in the short term, the overall trend remains bearish and will not change the overall structure. Therefore, this morning, I am more optimistic about the bearish decline after the rebound.
Bitcoin around 94700🈳, looking down to 93000#加密市场反弹
Overnight, Bitcoin retraced and then rebounded again, remaining within the range of fluctuations. Given the current pace, a slight peak can still lead to profits. As long as it hasn't broken through, this is a good opportunity to accumulate. Therefore, the morning strategy is still to look for retracement opportunities and follow the trend. Let's first see if the rebound can continue to refresh the high points.