Daily publication, personal insights on mainstream coins.
I cannot control how the market moves, but I can provide relatively stable entry points through intraday indicators, which can reduce the risks involved in trading and increase the probability of profit. Based on the intraday pressure and support levels, the layout will be very stable; remember to strictly set stop-loss and take-profit levels. Feel free to share different opinions!
Currently, Bitcoin is continuously fluctuating around 118272.0, showing an overall range-bound pattern.
Yutong believes that due to Ethereum's strong performance, funds should have been drawn away from Bitcoin and invested in Ethereum instead. In the short term, the market currently lacks significant trend momentum. Combining the 4-hour candlestick chart and indicator situation, the price may continue to oscillate between 116393.1 and 119919.5. It is essential to pay close attention to the breakthrough of the resistance level at 119919.5 and the defense strength of the support level at 116393.1.
Due to the current unclear market direction and weak momentum, it is advisable to patiently observe and wait for clearer trend signals.
Short-term operations: In the range-bound pattern, one can buy high and sell low. When approaching the support level of 116393.1, one can try to go long with a light position, targeting 118272.0 or the resistance above; near the resistance level of 119919.5, one can short with a light position to ensure risk is controllable.
Stop-loss settings: Strictly set stop-loss levels to avoid losses from range breakouts. The long position stop-loss should focus on 115678.8, while the short position stop-loss should be set above 119919.5.
Monitor momentum changes: Closely observe whether the MACD red bars continue to expand, and pay attention to whether the DIF line gradually crosses above the DEA, confirming effective signals of enhanced bullish momentum. If the WR value falls below 20, one can look for potential oversold rebound opportunities.
Ultimately, the current market is mainly in a consolidation phase, and one should respond flexibly near important levels while maintaining a cautiously optimistic mindset.
Candlestick patterns: Recently, the market has been mainly oscillating, showing "double tops" and "double bottoms," indicating potential reversal signals in the short term.
MACD: Both DIF and DEA are below the zero axis, with weak momentum; the shortening of the red bars indicates a balance of bullish and bearish forces.
WR: The current WR value is at 59.05, within the mid-range, showing no significant overbought or oversold signals in the market.
3. Potential buy and sell points
Enter long positions between 116000-116800, stop-loss point: 115500
Short position at 120000, aiming for profits above 1000 points.
Ethereum is still heading towards the peak of 4100, which should be seen this week.
If friends who haven't entered long positions yet can try to short each time a new phase high is broken, with profits of 10-20 points each time. But be sure to strictly set stop-losses. After all, the overall trend still looks bullish.
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—— I am Hongwei, a teacher focused on technical analysis. Anyone with questions about operations or trends can communicate and learn with me! Let's share and profit together! Remember Hongwei, available 24/7, follow Hongwei to avoid getting lost!
【The above analysis and strategies are for reference only. Risks are to be borne by the reader. The article's review and publication may have delays, and the strategies may not be timely. Specific operations should follow Hongwei's real-time strategies.】**
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