BTC: Has been fluctuating around the line of 105,000 with a 1,000 point range, without a clear direction. If the four-hour close is below 104,300, it can be determined as a new bearish signal, which is not the case now.
ETH: Last night hit a new high, changing the four-hour life line structure. Although it has been oscillating and retracing at the resistance level, it has not yet formed a bearish trend. We will discuss the bearish trend after it breaks below 2,560.
The current market situation can be summed up in four words: Caught in a Dilemma
Advance: There is resistance at the daily life line above; Retreat: The price has also stood above the four-hour life line below.
1: The rise at the 103000 position is due to the first touch of the daily life line during the pullback, which is also the 23.6% Fibonacci level.
2: There are daily-level resistances at the positions of 106600 and 108800, with Ethereum around 2646. It is uncertain whether it will drop at these positions.
Currently, it can be summarized as: The 4H cycle has returned to a bullish trend, and the daily line is also bullish. It is uncertain whether this bullish move in 4H is the last gasp of the bulls or a new force; we will wait a bit longer.
The rebound faced resistance; last week the BTC four-hour lifeline support was at 110200. After breaking below this level, it turned into resistance. Yesterday, there was an upward rebound, but it encountered resistance and fell back at this level, indicating that the resistance at this position is effective.
Short-term focus on 108600. If the closing line at noon 12 o'clock is below this level, a new short position will be established. Below, pay attention to the daily lifeline support at 104100.
BTC and ETH show signs of breaking down simultaneously in the four-hour cycle, indicating a trend reversal to bearish in this period. The thoughts are as follows:
1: Will look for opportunities to set up short positions, pay attention to Q information.
2: The decline will not be too drastic in one go; the probability of BTC breaking below 104000 on the daily chart is low.
3: If 111959 is the peak of this rebound, then the extreme value for the pullback of Bitcoin should be around 100500.
4: In this adjustment, being short is temporary; more important than being short is the upcoming long positions and accumulation of value coins.
Be a simple trend follower: do not guess the top, do not touch the top, and continue to accumulate long positions until a bearish signal appears.
As long as the lifeline has not been broken, continue along this trend. Even if you take hits, it will only be at the moment the turning point appears, which is much more valuable than randomly guessing the top and getting hit.
Viewpoint: Currently, the market is experiencing a short squeeze; the time to short has not yet arrived, the turning point is expected to be reached next week.
At this stage, the only trading method is: buying low is safe, asset selection: BTC, time frame selection: daily
Today is the first day of May, so let's first discuss the monthly trend for this month.
The overall trend this month is upward, and the strength should exceed that of April. Without clear bearish signals, we should not easily open short positions. As for how high it can rise, let's not indulge in wishful thinking or predictions; we will just follow the trend. According to the basic principle of reducing positions when BTC first breaks below the four-hour life line, and exiting when it breaks below the daily line, we may not sell at the highest point, but we can capture most of the market movements.
From an intraday short-term perspective, BTC tested the four-hour life line for the second time yesterday, and a quick rebound occurred at this position. However, based on the four-hour performance of USDT.D, it is still above the four-hour life line, and we cannot rule out the risk of a short-term pullback for BTC.
Therefore, the best scenario would be a pullback at the beginning of May, followed by an upward trend. As for whether this pullback can happen, let's not predict; we will only follow the trend, and we will only enter short positions when bearish signals appear. As long as it hasn't broken below the life line, we will maintain a bullish outlook.
It has been in a sideways trend for 8 days. BTC has been within the red and blue range of the life line for a long time. In such an unclear market situation, waiting is the best choice. Although Bitcoin has not yet established a trend, its counter indicator USDT.D has now broken above the purple line in the lower chart. If it stays above in a 4-hour timeframe, Bitcoin will soon establish a trend. The good warriors of the past first ensured they could not be defeated, in order to wait for the enemy to be defeated. Standing undefeated and being good at waiting are necessary to win. The goal of investors coming to the trading market is to make money, and this is correct. However, what we must do first is not to make money, but to avoid losing money, that is, to first ensure we cannot be defeated. With solid fundamental skills, achieve a position of being undefeated and first ensure trading does not result in losses.
The big coin is still oscillating within this range, without a clear direction. However, from the perspective of USDT.D, this signal has just broken through resistance on the four-hour cycle. Whether it can continue, we need to observe further. If this signal maintains a bullish continuation, the big coin will move downward to generate a bearish signal.
Before the signal is completely clear, do not act rashly; leave the opportunities for confirmed signals.
When the signal is unclear, taking immediate action is like shooting randomly; it consumes your capital and exposes your targets. In a sniper battlefield, the one who cannot hold back is often the first to fall.
Yesterday's market was very exciting, like a roller coaster with ups and downs. Even if you didn't hit your stop loss, you might have been startled and found it hard to find direction.
Yiming also posted multiple times yesterday, emphasizing that the market is still in a chaotic range, with no clear direction, making it unsuitable for participation, and provided images. The market is still within this range; if you want to be a bit more stable and safe, just wait for the market to give a clear signal.
The lifeline for judging direction will not be wrong.
The trading market offers endless opportunities, but account bullets are limited, so let's save opportunities for certain signals.
Figure 1 is the chart I posted today in a certain public account Figure 2 is the current situation, the difference is that there are 2 more 4-hour lines The lifeline is crucial in trading, especially in judging trends, it won’t be wrong
Today's market, regardless of long or short players, is actually quite uncomfortable, because there is no direction, and both sides are still fighting. Let's sleep first and see tomorrow who wins, and follow their trend.