Yesterday's article analysis mentioned that both Bitcoin and Ethereum are oscillating within a 30-minute center, and both are currently undergoing the expected 30-minute level downward retracement. Those who followed the community's shorting of Bitcoin at 1 o'clock in the afternoon can consider taking profit in batches at an opportune time.
The logic for choosing to short at that time was very simple and clear: the 30-minute center deviated from the internal two pens' upward trend divergence, and a 30-minute pen two sell corresponding to a 5-minute pen two sell appeared. The selling point appeared, leading to an inevitable decline. The current 30-minute downward movement has smoothly occurred, reaching a low of 61800 points, achieving the target. Currently, a 5-minute pen two buy has appeared, and profit should be taken in batches.
Now let's take a look at the current BTC and ETH 30-minute live charts:
The logic for shorting in the afternoon yesterday is marked in blue and green in the above image, and the expected 30-minute downward movement has occurred. What needs to be noted now is that there is a high probability that this will constitute the second pen center, breaking the low point as shown in the image, and providing an opportunity for the end of the downward retracement and the fifth pen center buy point. Long positions can use the pen two buy corresponding to the 5-minute pen two buy for entry, with the stop loss set at the previous low point. Expect a 30-minute upward movement.
The structure of Ethereum is similar to that of Bitcoin, and the trading logic is the same.
It should be noted that whether Bitcoin and Ethereum break new highs or not in the next 30 minutes, it will be a selling point. Both are points for reducing spot positions or shorting, because both Bitcoin and Ethereum are potential 4-hour sells. Once the 4-hour selling point is confirmed, they will go challenge the lows of Bitcoin at 58402 and Ethereum at 3240!
No speculation, no prediction, everything is based on structure, indicators are secondary, and based on the level of operation, buy points are for buying and selling points are for selling!
The above analysis is for reference only and does not constitute any investment advice!
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