After the weekend's consolidation, the market saw a pullback yesterday following a sideways trend. In the short term, there was a dip. Over the weekend and early Monday, Lao Bai had already provided the strategy in advance. He entered a short position near 27900 for Bitcoin, capturing a 400-point downside as expected. Then, he went long at the lowest point, capturing over 300 points today. Steady operations lead to stable profits. Every move brings gains, it's experience, wealth, self-training, or even miraculous occurrences.
When there is a strong uptrend, don't go against the trend to touch the top. Instead, seize the opportunity of a pullback and act decisively. Opportunities are fleeting, don't miss out! The trend reversal definitely signifies the emergence of a major market movement! The current resistance is near 27900. We won't go short until the target is reached or a significant bearish trend appears.
The current support level is at 27400. Continue to go long after an intraday decline, with defense at the previous day's low of 27200. When there is a strong uptrend, act decisively during pullbacks. Missed opportunities will lead to regret!
From a technical analysis perspective, yesterday's decline was also a bottom exploration. Currently, Bitcoin is at a minor bottom near 27200, while Ethereum is at a major bottom near 1550. After hitting the bottom, a rebound has started. Currently, Bitcoin is stabilizing near 27500, and Ethereum is stabilizing near 1580. In the day session, you can go long around these two positions.
Long Bitcoin in the 27300-27500 range, with a target of 28200-28500 and adding positions at 27000.
Long Ethereum in the 1560-1580 range, with a target of 1630-1650 and adding positions at 1540.
Determine the intraday range after a certain amount of space, in a volatile market, the position comes first, and the trend comes later. The key is to grasp the range and the accuracy of the entry points. Specific operation points are subject to real-time adjustments.
For those who are uncertain about short-term trading, unable to grasp the situation, or experiencing difficulties in operations, you can chat with Lao Bai. He provides 24-hour online guidance!
Weibo: Coin Circle Lao Bai
WeChat Official Account: Lao Bai Talks Coins
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