Only with a calm mind can one achieve great success in investment. Making money is the only goal, everything else is just empty talk. Making money is the key. Hello everyone, I am AICoin Jinrui!
Yesterday, Jinrui suggested shorting below the $69,000 level after breaking through the cloud layer, with target prices of $68,500 and $68,000, both of which were reached, securing a profit of 1000 points.
The short-term long positions set up near $69,000-$69,200 also rose to around $70,000 for refined profit-taking. From a short-term trend perspective, Jinrui indicated the formation of a double top pattern yesterday, and the market experienced a significant decline as expected.
The approval of the Ethereum ETF yesterday led to intense market fluctuations. Due to the impact of "selling the fact," it may be difficult for many friends to grasp the market direction in the short term, Jinrui believes.
[BTC 4-hour chart]
As shown in the 4-hour chart above, the price fell after reaching the third high point of the downtrend line. Therefore, Jinrui believes that if Bitcoin wants to reverse the trend, it must break through this line.
[BTC 1-hour chart]
Looking at the 1-hour chart, it seems that a small head and shoulders bottom pattern is forming. [Entry points]: 1. Short after breaking through $67,300, with a take-profit at $66,800, which is also a previous effective support/resistance line.
2. If $66,800 stabilizes as support, go long with a take-profit at $68,000.
Jinrui believes that it is not a good time to enter the market forcibly in the short term, and it is important to wait for a well-founded entry point.
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I have years of in-depth research on spot contracts, BTC, ETH, and various altcoins. If you are not doing well in trading, experiencing long-term losses, or getting stuck in trades, you can follow my public account (AICoin Jinrui). Investment involves risks, so be cautious when entering the market. The market fluctuates every day, and all I can do is to provide help based on my years of practical experience, guiding your investment decisions and management in the right direction.
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