In April, the gentleman reminded Beautiful Valley and Big Cake that there was an opportunity to test the completion of the shark pattern at 0.886, which Big Cake has already reached. Beautiful Valley gapped up last night with a significant increase. On the 11th, it was noted that Beautiful Valley was nearing the end of its upward trend, very close to 0.886 and the rising trend line, so attention should be paid to whether a reversal will occur.
Big Cake's weekly chart has seen five consecutive bullish candles with an increase of over 40%. The MACD has crossed the zero line, and the fast and slow lines have intersected. A short-term pullback is still in a bullish trend. On the daily chart, the shark pattern has completed with a maximum touch of 105863, which is 4000 points away from the previous high of 110000, representing a potential increase of 3.76%. For swing traders, especially those in spot trading, there is no need to be overly rigid about bottom fishing or top picking; just aim to catch the good moves and consider reducing positions, then re-enter on a pullback.
Big Cake
Given that Beautiful Valley rebounded strongly yesterday, Big Cake is still affected. It has been pulled up ahead of the CPI announcement, so watch for any spikes around 106000; it may oscillate here for a few more days.
The 4-hour chart shows that the rising channel has been broken twice; if the rebound cannot return to the rising channel, there is a risk of continued decline. However, do not expect the pullback to be too deep unless an unexpected event occurs. Pay attention to the daily rising trend line.
Support: 92000—96500—100678
Resistance: 110000
Ethereum
Ethereum and altcoins are still taking turns to rebound. Moving forward, continue to focus on short-term trades as they rebound. Many people see Ethereum rebound by dozens of points over a few days and think it’s doing well. Ethereum is still in a state of oversold rebound; note that in the past two years, the large fluctuations have been between 50—80%, with other times either oscillating or pulling back.
The daily chart has consistently found support around 2400, so first pay attention to this platform support and look for a pullback opportunity around 2100—2200.
Support: 2100—2200
Resistance: 2856—3200
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This article is time-sensitive and for reference only; it is updated in real-time.
Focusing on K-line technical research, sharing global investment opportunities. Public account: BTC Trading Gentleman Fusu
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