On Friday, the market volatility was not significant. Recently, the liquidity in the cryptocurrency space has been really poor, relying solely on some urgent liquidations to drive the market. During the live broadcast on Friday night, I advised everyone to enter low long positions at 94500 and 3270. On Saturday, I also reminded to reduce positions at 95500 and 3310. We have already taken some profits, and after reducing positions, we changed to a break-even stop loss. Ethereum reached a high of around 3346 today. Are the long positions still there? If so, change the remaining positions to a break-even stop loss and continue to look upward!
Bitcoin's daily chart is likely to show four consecutive bearish candles. The Bollinger Bands are opening upward, with all three lines moving higher. The MACD bullish momentum is continuously shrinking, the KDJ lines are about to converge and form a death cross, and the RSI is oscillating downward after being overbought at high levels. From the indicators, there is a demand for a pullback correction, but the price is still consolidating at high levels, not dropping significantly. This easily creates a feeling of sideways movement instead of a drop, which can be misleading! On Friday, I thought there would be a big drop, but the pullback stopped around 94200. Fortunately, I entered long at 94500 in time, so sometimes you can't overthink it. When it reaches support, control your position and go long when you should!
On the 4-hour chart, the Bollinger Bands are tightening. The upper and middle bands are moving downward, applying pressure, but the lower band has not moved down; instead, it is slightly opening upward. The price has been rebounding but is under pressure from the 4-hour middle band. The MACD bearish momentum is shrinking, and both KDJ and RSI are moving downward, but the price is not dropping much. Therefore, in this market, you shouldn't be too aggressive in shorting, or you might get trapped!
In terms of operations, next week, focus on shorting at highs. The upper resistance to watch is around 98000 and 90000, and high shorts should revolve around these levels, targeting 86000 and 75000. If you want to participate in short-term longs, the lower support to watch is around 94000 and 92500, and low longs should be around these levels.
For Ethereum, the upper resistance to watch is around 3400 and 3440, and high shorts should be positioned around here, waiting for entry. The lower support to watch is around 3250 and 3180, and low longs should participate around these levels!
The market is repeatedly oscillating and consolidating at high levels, and recently there have been constant liquidations. Therefore, in terms of operations, it is best to wait and participate when the price reaches the right levels; otherwise, it can easily affect your mindset, making it hard to hold positions!
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
