Repeated fluctuations and consolidation, patiently waiting for a breakout of the range, do not chase highs or cut losses!

CN
1 day ago

There is indeed strong resistance at 94,500 above Bitcoin. Whether one says it can hold here and definitely won't break through, leading to a continued decline; or that it definitely won't hold here, and the market will rise by a certain amount, both seem a bit too absolute! The market is repeatedly washing out, and although the volatility isn't large, looking at the liquidation data is quite terrifying. One must not chase highs and cut losses!

Currently, from the market perspective, 94,500 is strong resistance. If the market stabilizes here and breaks through, it will really aim for the 98,000 level. Therefore, until there is a breakthrough here, no matter how much one shouts bullish, do not directly chase the highs! The important support below is at 90,500. The market must break below this level for the rebound to be considered over, and it will continue to decline. So in terms of operations, either get close to 94,500 with a small stop loss and participate in a high short, or set up a low long near 90,500 with a small stop loss. In this way, the probability of making a mistake is small, and even if wrong, the loss won't be large. Once the resistance or support is established, the profit won't be small either.

The market's inability to easily break through 94,500 is expected, but it is also unexpectedly frustrating, testing back and forth. If this long position stops out, then set another low long at 90,500 to participate in the rebound. For short positions, currently only consider near 94,500. If it breaks through, then consider a high short at 98,000.

For Ethereum, the support reference is around 3,210. Here, set a small stop loss to bet on a rebound, targeting 3,260, 3,300, and 3,350. If this level fails, then around 3,000, set a small stop loss to participate in another low long. The recent high point of Ethereum at 3,446 has not been tested yet. For high shorts, only consider trying when approaching this previous high position, with a small stop loss.

Is the wolf eating the sheep good or evil? It is good for the wolf and evil for the sheep. Therefore, there is neither good nor evil. The sheep eat grass; who is good and who is evil? Some things can be justified from any angle, and sometimes one doesn't even know where to stand! If you look at the world with compassion, everyone seems pitiable; if you look at the world with cause and effect, there is no one to pity. Is the rise in gold good or evil? It is good for the bulls and evil for the bears. Good and evil are relative; what is beneficial to oneself is good, and what is not beneficial is evil.

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