Market Sentiment:
Chart Structure:
Bitcoin:
The structure of Bitcoin on the 1-hour chart. The market is indeed the market. It always moves in the opposite direction of what you expect. The market has once again made a V-shaped return and is currently oscillating within the central range of the 1-hour chart. Without a breakthrough of the central range, there is no clear direction. Since it has returned to oscillating within the central range, we can only operate based on the trend of the central range for now. CPI will be released tonight, but it is likely that the pricing has already been anticipated. Of course, if the CPI news is better, it may still drive the risk market to rise.
The structure of Bitcoin on the 15-minute chart. Currently, Bitcoin has completed a full upward movement on the 1-hour chart, completing three upward movements on the 15-minute chart. It is currently undergoing the first downward movement on the 15-minute chart as part of a 1-hour retracement. The chart shows that the current movement is the first downward movement on the 15-minute chart. After the completion of the first movement, it will rebound for the second movement. It is expected that the end of the first movement will be near the red line, which is the first green circle. After the second upward movement, the strength of the third downward movement will be observed. Personally, I expect it to be better near the second green circle. If everything goes as expected, the entire upward structure of the 1-hour chart has not yet ended, and there will be a third upward movement.
Ethereum:
The structure of Ethereum on the 1-hour chart. The trend of Ethereum's structure is similar to that of Bitcoin, but the difference is that Ethereum's retracement has not fully retraced within the central range of the 1-hour chart, relatively speaking. If Bitcoin continues to rise, Ethereum is likely to retract back into the central range. I still recommend focusing more on Bitcoin.
Trading Strategy:
Invest with caution. This article is not intended as a basis for buying or selling.
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