Daily Sharing

In yesterday's article, we mentioned that the rebound of the 1-hour level of the fourth decline in the 4-hour level of Bitcoin was almost coming to an end. Today, we are seeing the fifth decline at the 1-hour level, which has already successfully emerged and is not over yet. Next, let's look at the intensity of its decline.

In the member group, it was suggested to short near 67000 and 66500 for Bitcoin, and to short Ethereum near the 3250-3300 range. Yesterday, the rebound reached the target area, and successful short positions were taken. Today, profits were gradually reduced.

The overall 4-hour decline, whether it has ended or not, still needs to be observed. However, the short-term fifth decline at the 1-hour level is almost over, and next, we will see if it can directly rebound at the 4-hour level.

As for spot trading, the bull market is not over, and the current pullback is an opportunity.

BTC

Due to the rapid changes in the market, the article can only make predictions based on the market changes at the time of publication. Short-term players should pay attention to the latest market changes and use the information as a reference only.

1H:

At the 1-hour level, based on the structure of Bitcoin and Ethereum, as well as the upcoming Bitcoin halving, personally, I am more inclined to believe that Bitcoin will oscillate in the range of 61000-67000 in the short term, consolidate a 1-hour level center, and then continue to decline to end the probability of the 4-hour level decline.

The current fifth decline at the 1-hour level is almost over in terms of time and structure, with a possible short-term rebound to be seen tomorrow, with the target around 66000.

As long as it does not break through 67000, it is highly probable to form a center and then decline again.

15M:

At the 15-minute level, the current 1-hour level decline may not have ended yet. It would be better to go down to the 61000-60000 range. If the rebound here cannot break through 64400, then it is considered that the 1-hour decline may break below 61600 again. Look for a rebound at the 1-hour level if it breaks through.

ETH

From the structure of Ethereum, after the rebound at the 15-minute level, it is very likely to retest and break below 2986.

Currently, Ethereum's third 1-hour level decline has not broken 2850, but the 4-hour level decline is likely to break below. So, if Ethereum's third 1-hour level decline remains above 2850, it is inclined to consolidate a 1-hour level center in the future, and then continue to extend the decline. That is, Ethereum's 4-hour level decline will go through 5 declines.

Altcoins

Yesterday, we roughly talked about the rhythm of altcoins, so today let's briefly talk about the overall fate of altcoins. In recent years, there have been more and more newly listed altcoins, but the fate of most altcoins can only be gradually eliminated by the market, and they cannot possibly achieve historical highs in every bull market like Bitcoin.

Those who boast about how great their projects are and how perfect their applications are are just a flash in the pan in the long river of history. Therefore, most altcoins can only thrive in one bull market after another. Only a very few lucky ones can outperform in each bull market.

This actually requires us to have a certain selection when buying altcoins. It is best not to touch old and unpopular altcoins, because their ultimate fate is to go to zero. What are old and unpopular altcoins? Altcoins that have gone through at least one bull market, such as a certain altcoin that experienced the explosive growth of the 2020-2021 bull market, or even longer, such as those that experienced the 2017 bull market and the 2021 bull market at the same time. After these altcoins experienced the bull market surge, they trapped many people at the peak. If there are no celebrity endorsements, their rebounds will generally get lower and lower, and they will eventually be delisted and go to zero.

In the 2024 bull market, we should buy mainstream altcoins that are old but still receive enthusiastic funding, such as LTC, ETC, DOGE, and so on. Then, you can buy altcoins issued at the end of the 2012 bull market, most of which peaked shortly after listing, so there is a certain demand for speculation in this round of bull market. Finally, it is more appropriate to look for altcoins newly issued from mid-2022 to the end of 2023. They were born in a bear market, so they can only continue to decline and wash out thoroughly. It is best to participate in altcoins that were listed in 2024 after 2-4 months of decline and washing out.

Trend Direction

Weekly Level: Upward, currently continuing the rebound from 15476. Pay attention to the subsequent daily line situation for when it will end.

Daily Level: Downward, currently undergoing a pullback at the daily level, which has reached the middle or late stage.

4-hour Level: Downward, currently in the third 4-hour decline within the daily pullback, with attention to the range of 59000-60000 below.

1-hour Level: Downward, currently undergoing the fifth 1-hour decline, which may not be complete in the short term. The range of 60000-61000 can be observed.

15-minute Level: Downward, likely to continue downward.

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The article is time-sensitive, pay attention to the risks, the above is only personal advice, for reference only!

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