The market rebounded as expected. How do you see the follow-up market?

CN
1 year ago

I am but a commoner, toiling in Nanyang, seeking only to preserve my life in the chaotic market, not aspiring to fame in the world of cryptocurrency, but striving to be true to my heart. I am fond of a quote by Robert T. Kiyosaki, "The love of money is the root of all evil, and poverty is the root of all evil." I believe that everyone in the cryptocurrency world is seeking profit. I hope that my market analysis in the days to come can help everyone reap substantial gains in the cryptocurrency world. The sea of learning is boundless, knowledge knows no bounds. Continuously increasing one's knowledge and combining it with one's own trading habits is the only way to survive and achieve one's ambitions in the cryptocurrency world.

First, let's analyze the recent market trends of Bitcoin and Ethereum.

Bitcoin, BTC rebounded from 38500 to 43800 as expected, and is currently trading near 43390. When BTC reached 42300 in the core group, I had already notified everyone to exit. Unfortunately, I did not capture the subsequent profits. Looking at the daily chart, BTC is currently in a rebound phase, with multiple bullish candlesticks breaking through the moving averages. However, it is important to note that there is a deviation in the moving averages on the daily chart, coupled with the upper Bollinger Band pressure. Therefore, it will be difficult to make a breakthrough without significant volume. Looking at the 4-hour chart, although it is in an upward phase with stable moving averages and a golden cross, the RSI indicator shows a significant deviation. Additionally, this position is a central pressure point, so it is reasonable to consider short positions if it continues to rise. The short-term retracement point is around 41800. On the hourly chart, the upper Bollinger Band has not seen a breakthrough with significant volume, and the indicators have shown a dulling. The demand for retracement near 41800 on the hourly chart has further increased. Therefore, we must be aware of the risks during the upward movement and not blindly bullish. My suggestion is to enter a short position at the market price, or to short near 44000, with a short-term target of 41800, and to continue monitoring.

Ethereum, ETH rebounded from a low of 2160 to near 2326. From the strength of the rebound, it is clear that Ethereum appears weaker. However, I personally believe that its retracement will not be as much as BTC's. The 4-hour MA120 moving average is around 2350, and it is currently above the MA30 position, showing an overall bias towards oscillation. I recommend focusing on short positions, with the possibility of entering a high short position near 2350. Looking at the hourly chart, it is currently in a range of oscillation between 2160 and 2320. The hourly moving averages are stable, and the trend may be more stable overall. However, the lack of a significant volume breakthrough is not ideal. My suggestion is to consider short positions near 2350 and 2380, with a short-term target of around 2200.

Audi, Audi rebounded from around 49 to a high of 63. Looking at the 4-hour chart, the MA120 moving average pressure level is around 63, reaching a critical point of pressure. This may indicate a continued decline for Audi, and breaking through 50 is only a matter of time. However, breaking through 50 all at once may not be allowed due to the lagging of the moving averages behind the price trend. When all the moving averages cross the price, it is a turning point. I believe that the short-term peak for Audi is around 63, and it may oscillate between 50 and 60 in the future. After a period of oscillation, there may be a secondary decline, breaking through 50. The reason is that the main selling price is near 75. I do not see the possibility of a second bull market in the current trend. I recommend clearing positions and observing, or for friends who engage in arbitrage, using the KDJ, RSI, or Bollinger Bands for short-term trading within the oscillation range is feasible, but long-term holding is very risky. Therefore, my suggestion is to enter a short position directly at 63, and determine the take-profit point on your own.

All the above suggestions are personal opinions and do not constitute investment advice. The cryptocurrency market is risky, and operations should be cautious.

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