Market Sentiment:
Chart Structure:
Bitcoin:
Structure of Bitcoin on the 1-hour chart. As expected, the trend yesterday indicated that if there is a downtrend leaving the pen, combined with the high probability of two downtrend finishes, as long as there is no acceleration downwards, there is a high probability of an upward trend on the 1-hour chart, followed by a pullback. This is the worst-case scenario. The best-case scenario is a direct upward trend of a 4-hour rebound. Currently, it is pulling back to the center, and if it breaks through the center again, there is a probability of an upward trend on the 4-hour chart. This means the market still has the opportunity to return to higher positions.
Structure of Bitcoin on the 15-minute chart. The current trend of Bitcoin on the 15-minute chart is as shown in the image. The red on the left represents three downtrends on the 15-minute chart. In fact, the third trend is not a divergence, but a direct pullback. However, we also see a bottom divergence on the 15-minute chart, indicating the end of a downtrend on the 15-minute chart and the start of a rebound on the 15-minute chart. But currently, the market has directly pulled back. Since it has pulled back and returned to the center, we will consider this as the end of the downtrend on the higher 1-hour chart, representing the end of the short-term downtrend. We will see if it can follow the upward trend as shown in the first image, representing a 4-hour upward trend. Currently, it is in the first upward trend on the 15-minute chart within the 1-hour upward trend.
Ethereum:
Structure of Ethereum on the 1-hour chart. The structure of Ethereum is similar to Bitcoin, with a direct pullback. Since it has pulled back, it also indicates the worst-case scenario of an upward trend on the 1-hour chart, to see if it can break through the center. If it breaks through the center, there is a possibility of an upward trend on the 4-hour chart. So, there is still some short-term anticipation.
Trading Strategy:
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