Sometimes, life is a compromise, tolerance, and accommodation. Not everything is suitable for confrontation and forcefulness. Colorful life includes both sunny days and pouring rain. Being firm has its benefits, and so does tolerance. It's important to assess the situation and act accordingly at all times. Persist in your choices and beliefs, as that is the correct path for you. It's not important how others see you; what matters is that you do what you believe is right.
The daily level of Bitcoin has seen consecutive declines, which is not favorable for the bullish trend. However, the price has temporarily not fallen below the key level of 28,000, and it's not yet clear whether the bearish trend will continue. The closing pattern today will determine if the bearish trend since the suppression at the high point of 31,855 will continue, or if there will be a rebound from the oscillation. From a technical perspective, the price needs to rise above 29,500 to continue the uptrend, and it needs to stabilize above 30,400 to challenge the bearish pressure above 31,855. In the short term, a gradual oscillation between 29,700 and 28,300 is forming. If the lower point cannot be held, there is a probability of weakening and testing the 28,000 level, which is a key derived support point below the trend line of 19,525-24,782.
In summary, the current situation has been somewhat broken. It has reached a new low around 28,300 and then started to rebound. It seems that a clear bottom has been reached. The morning's decline has caused overselling. Combined with the recent oscillation structure analysis, it is believed that the range decline has ended, and a rebound is expected. The probability of a continuation of the downward action is small, especially after the morning's downward spike.
In conclusion, the suggested operations for today are:
BTC: Long at 28,500 or above
ETH: Long at 1,780 or above
Teammates who entered long positions yesterday can add to their positions at this level
The suggestions are for reference only. Profits should be managed independently.
No exaggeration, no dragging, no grandstanding, just the points! Scan the QR code to follow the public account "Martin Daily Strategy".
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