This week's trading summary.
This week the market continued to surge and plummet, making operations more difficult. High-frequency traders continue to be stopped out repeatedly; the most important development this week is the progress of the (CLARITY Act), but the most critical aspect of issuing interest on stablecoins was rejected, causing the stock price of CRCL, the parent company of USDC, to plummet by $36, a 29% drop in just two days; coupled with the rebound in crude oil and gold, which absorbed most of the liquidity, risk assets are under pressure, and BTC/ETH also followed with significant pullbacks, erasing all gains since Monday evening!
Currently, this wave of decline: 1. Testing support at 63500 to confirm support and initiate the next wave of rebound; 2. Breaking below 63500 to test support at the 60000 integer level; the main choice awaits time to verify.
Will there be a violent rebound event like last Monday next week? Currently, it remains to be seen. If this wave touches the bottom and rebounds at the 1h/2h level, then this expectation will be completed before next Tuesday.
If all goes well, perhaps the bottom test at the 63500 line will be completed in the next couple of days and early Monday morning.
This week's trading on Monday afternoon saw the 67500 long position exit with profit space. The Tuesday WIF long position had a small profit, but I couldn't hold it; Wednesday's rebound in the 71000-71500 range was short, as well as ETH's rebound at 2200-2225. The SSV small medium-term layout on Wednesday is still held and hasn't ended; Thursday's CRCL had a total stop loss of 3 dollars, with XAU's 4385 long position yielding profit space. BTC's average price on Thursday and Friday is temporarily stuck in the range of 68000-68800 without adding positions, and there is no liquidation price to take into next week. ETH is stuck at the 2060 line and has not hit the add position yet, looking to take it into next week!
There are gains and losses, and break-even; overall balance and market fluctuations are basically highly correlated. After a week of fluctuations, the price has returned to last weekend's level.
Assets have basically returned to last week's level, and even the pullback in spot assets is lower than last week's assets.
This weekend, pay attention to BTC support at 63500/60000 and resistance at 68500/70825.
ETH focus on support at 1825-1905/1600 and resistance at 2100/2225.
The support level is definitely a place to wait for spot trading. It's the perfect moment to place orders for spot, just wait to receive; receiving it will be your big fortune in the future. Control the contract position according to the above suggestions.
Pay attention to the time nodes on Sunday night at 23:30 and Monday morning at 6:00/8:30/18:35. If there continues to be pressure to explore the bottom, that will be the time to look for opportunities to add positions and enter the market!
If the enemy does not move, I will not move. Stay calm and give the market some time to ferment!
