Today I would like to share my views on ETH: First, Ethereum has broken through the long-term suppressed downward trend line. Second, it has not created a lower low. Finally, it has tested the support around 1750 and quickly recovered.
It meets all the requirements of the 123 rule, so we can boldly look upwards, 1930, 2000, 2100...... At the same time, Bitcoin's market capitalization ratio has also shown a downward trend in the past few days. Next month is worth looking forward to; we may see altcoins perform even better.
Today's short: xai Short reasons: The entity broke through important support near 0.0695 (can also be seen as a downward breakout of the triangle) Trading suggestion: Short at market price, stop loss at 0.07158 (4-hour high), take profit at 0.05785
Today go long wld Reason for going long: Breakthrough the descending trend line Open long at market price, stop loss near trend line at 1.456, target near yesterday's high at 1.65
Today's long position: ltc Reason for going long: Bull flag formation, breakout of the descending channel, about to surge Open long at market price, stop loss at 97.5, take profit near 120
On May 11th, everyone should reduce their positions or liquidate them. Note that the pullback has not ended. Follow me, and when the pullback is in place, I will call everyone to buy the dip.
Recommendation Reasons: 1. Cup and Handle Pattern Formation 2. Strong Resistance Breakthrough on Daily Chart
Operating Suggestions: Enter a position directly in spot or futures, add to position at 0.242, stop loss if 4-hour candle falls below 0.24, take profit at 0.35
Reasons for Recommendation: 1. Located at historical lows, based on previous trends, there will be a strong rally from here.
2. There is a trend towards forming a daily chart head and shoulders bottom.
Trading Suggestion: Enter a long position in spot or low-leverage contracts near 0.162, with a stop loss if the 4-hour candlestick closes below 0.162. Alternatively, wait for a pullback to around 0.153 to enter long, with a 5% stop loss, targeting around 0.4.
Today I recommend a promising cryptocurrency: CYBER
Reasons for recommendation: 1. Head and shoulders bottom formation 2. Daily line breaks through the neck line
Now is the time to buy spot or low leverage contracts, set a stop loss if the daily line closes below the neck line, and take profit around 2.1 (expected increase of 50%)
Reason for Recommendation: Ethereum is also operating along this channel. We will go long at the lower edge of this range and take profit at the upper edge.
Place a buy order at 1781, stop loss at 1750, take profit near 1910
The recent plunge of altcoins has caused me to continuously stop losses, so I temporarily do not plan to open long positions in altcoins. I see trading opportunities in Bitcoin and Ethereum, and I would like to share them with everyone.
Today's recommendation: BTC Long entry point: around 94500, Reason: Bitcoin is operating along this channel at the 4-hour level, and we are attempting to go long at the lower edge of the channel.
Place a long order at 94500, stop loss at 93700, and take profit at 98300-99500.
Reason for Recommendation: 1. Breakthrough of the downward trend line 2. Daily closing price above the important support and resistance level of 0.27 (expected to have a good rebound here)
Market price buy, stop loss at 0.0255, take profit at 0.4
Reasons for Recommendation: 1. Breakthrough of the downward trendline 2. Price is near important support and resistance levels of 0.21-0.205, expecting a good rebound here
Enter long at market price, stop loss at 0.1970, take most profits at 0.2750, leave a small portion for pattern
Recommendation Reason: 1. Breakthrough of the downward trendline 2. Moving along the upward trendline, currently about to touch the upward trendline, expected to have a good rebound
$JOE
Enter long position at current price, stop loss at 0.17913, take profit at 0.31
Today, let's talk about several questions that everyone is most concerned about: Has the altcoin season arrived? And which phase of the altcoin season are we currently in?
Before we dive deeper into the altcoin season, I would like to share a few important charts that are closely related to the altcoin season:
First, there's TOTAL2 — this chart tracks the overall altcoin market excluding Bitcoin. The price of TOTAL2 has successfully broken through a significant historical resistance level, which is a major bullish signal for the altcoin sector. With this breakout confirmed, any pullback or retracement should be viewed as a healthy adjustment and a new buying opportunity.
Next is Bitcoin Market Cap Dominance (BTC Dominance), this chart reflects Bitcoin's market cap dominance. We see that Bitcoin is climbing along this upward trend line in the chart. When Bitcoin's market cap dominance breaks below this upward trend line and faces a larger pullback, altcoins may perform better.
With these two charts for reference, we can draw a simple conclusion: the altcoin season has indeed arrived, and we are in the early stage of the altcoin season.
In the coming days, altcoins may experience a slight pullback; do not panic, follow me and I will share more quality altcoins again at that time. $BTC $ETH