Do not worry about having no friends on the road ahead; there are like-minded individuals on the investment journey. Good afternoon, everyone! I am the King of Coins from the Coin Victory Group. Thank you all for coming here to watch the King’s articles and videos, and I hope the brothers who have been following the King will return.

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In recent days, many friends have asked the King why, despite the interest rate cuts, the cryptocurrency market only trembled briefly and then remained quiet, while the stock market is thriving. Why is that? The answer is quite simple. Do you remember the grand fireworks we set off in the Pacific in September? That is the reason; it indicates that we can protect the funds coming in for investment. Coupled with the Federal Reserve's interest rate cuts, it encourages foreign trade companies that previously kept their money in overseas banks for interest to bring their funds back. However, the actual amount of money released from interest rate cuts and reserve requirement ratio reductions is not substantial. As the saying goes, confidence is worth its weight in gold, but the confidence belonging to the cryptocurrency market has yet to arrive. Only when these capital gains in the stock market have reached their peak and are in a sideways trend will it be the opportunity for the cryptocurrency market.

As of today, the price of Bitcoin is $64,000, which has seen a short-term decline, a very normal market behavior. The so-called long-term must fall, as the market has already priced in many expectations of the Federal Reserve's interest rate cuts. After the positive news was released, the market rose, but it did not break through the key resistance. Additionally, market funds have not been fully released, leading to the current pullback. This is an analysis from the market perspective; now let’s look at the technical side. From the daily chart, we see a bearish engulfing pattern, a typical trend reversal pattern. If today closes again in the red, the market will enter a phase of decline. Therefore, our strategy today is to focus on short positions. Opening the hourly chart, we look for short-term opportunities. The market touched the 62,800 line this morning. From the naked candlestick chart, we can see that this position has been a low point multiple times in the past. Today, we can look to place short-term trades around this position, with a stop loss of 200 points and a profit target of 1,000 points. Unexpected stop losses should only be set at 62,000-61,800 for long positions. On the upside, we should pay attention to the 64,800-65,000 range for potential short entries, with a stop loss of 300 points. For aggressive traders, a light short position can be attempted near the current price of 64,100 to prevent missing the entry, with a stop loss of 200 points and a target of 63,100. The market has been changing rapidly recently, and there may be delays in publishing; for more real-time suggestions, please refer to instant communication.

Today, the price of Ethereum (ETH) is $2,650. Reviewing yesterday's article on Ethereum levels, the King suggested entering long positions at 2,580-2,600, which perfectly provided an entry point early this morning, currently yielding a profit of 70 points, reaching expectations perfectly. Now, looking at the technical indicators, compared to Bitcoin, Ethereum's trend is relatively weak, with three consecutive bearish days on the daily chart. Although there was a rebound today, in my view, it is difficult to reverse the downward trend, so we should still focus on short positions. Let’s look at the short cycle; there has been no essential change in the market compared to last week, still facing strong resistance at 2,680-2,700. If this level is reached, we can short. Aggressive traders can enter a position near the current price of 2,650, adding to the position at a high point, with a stop loss at 2,710. On the downside, if 2,580 is reached, we can continue to go long, with a stop loss of 15 points. Unexpected stop losses should be set at 2,520 for continued long positions, with a stop loss of 30 points. Ethereum's volatility is relatively small, so friends seeking stability can trade more.

This article is independently written by the Coin Victory Group. Friends in need of current price strategies and solutions can find the Coin Victory Group online. Recently, the market has been primarily characterized by fluctuations, accompanied by intermittent spikes. Therefore, when placing trades, please remember to manage your take profit and stop loss effectively. In the future, when facing significant market data, the Coin Victory Group will also organize live broadcasts across the internet. Friends who wish to watch can find the Coin Victory Group online and contact me for the link later.

We focus on spot and contract trading, BTC/ETH/ETC/LTC/EOS/BSV/ATOM/XRP/BCH/LINK/TRX/DOT, specializing in strategies that revolve around high and low support and resistance for short-term swings, medium to long-term trend trades, daily extreme pullbacks, weekly K-line top predictions, and monthly head predictions.

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