After the single stop profit, there may be a short-term decline during the day, waiting for support to continue the subsequent market!

Market Review

The midnight market also rose smoothly, reaching a high of 28163. The market firmly remains bullish without any problems. First of all, why did this round of rise happen? Because after a large retracement in the previous market, the market has been in continuous oscillation without making new lows. Therefore, it is still difficult for the current market to continue to break through. After a period of oscillation, there will inevitably be a rebound before opening up the subsequent market. This is also the reason why the recent market has been continuously consolidating within the range. After this round of rise, it has once again entered a period of oscillation, which will inevitably lead to a fluctuation and decline. Currently, it is still necessary to maintain the market within the range!

The midnight market rose directly, and also stood above the daily MA20. This round of rise has opened up the upper range. However, due to the short-term divergence below the daily line, a correction is still needed for the subsequent market range to open up. Therefore, for the daytime market, it still needs to experience a round of support retracement, or move the support upward, and then continue the rebound. The support below is in the range of 26700-26500. Short-term declines can be used for short selling, and long positions can be taken when it reaches the support. The upper pressure still remains at 28000-28200. During the day, it is still maintained within the range of high short and low long positions. Once the upper pressure is broken, there will be new highs. Maintaining the range and waiting for the pressure to be broken is sufficient.

The market of Ethereum also rose, and the daily line also stood near MA20 in the morning. However, the support below the candlestick is still quite obvious at the moment. The four-hour trend is also oscillating at a high level. Therefore, although the market of Ethereum can continue to be bullish, there is still some short-term pressure. The support during the day is at 1670-1680. In the short term, it is better to look for a falling market. When it reaches the support below, long positions can be taken again. The upper pressure remains at 1770-1750. Maintaining high short and low long positions within the range, the upper pressure can be broken through, and there will be new highs. The upper pressure is above 1800.

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