Market Sentiment:
Chart Structure:
Bitcoin:
Structure of Bitcoin on the 1-hour chart. Currently, Bitcoin has fallen back into the center of the 1-hour range, indicating that the market is much weaker than expected. The market is also pricing in the anticipation of the Fed's interest rate hike in advance. Since it has returned to the center of the range, the only way to operate is to follow the oscillation of the range, which means operating in the opposite direction at the upper and lower bounds. Currently, the market requires patience. It needs to be more patient than the main players in order to be rewarded.
Structure of Bitcoin on the 15-minute chart. Currently, Bitcoin is following a departure trend on the 15-minute chart, and it is also clearly in a non-divergent state. Since there is no divergence, the rebound here is likely to be a risk of a 15-minute three-sell, and there will be a third 15-minute decline to run. Here, you may want to observe the 15-minute MACD to see if it is pulling back to the zero axis. If it is, then this rebound is relatively weak.
Ethereum:
Structure of Ethereum on the 1-hour chart. The trend structure of Ethereum is very weak. It is close to falling back. However, in the short term, if the 1-hour decline ends, the rebound is likely to be near the yellow pressure level, and then continue to run a 1-hour decline. Overall, Ethereum's performance is still very weak. It is best to observe more and act less.
Trading Strategy:
Invest with caution. This article is not intended as a basis for trading.
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