Did the BCH and ZEC whales run away? Can we still short? Yilihua's bullets are running low! Will they be crushed by institutions? Let's take a look.
1. First, BCH with a large position is selling at 630-650, which Shuqin informed everyone about in advance. It has now dropped by 10%, making it not very good for shorting, because the whales can always buy back at any time.
2. Therefore, the safest operation for BCH is still to short at 630-650, as some retail investors are still enthusiastic, and who knows, there might be a second peak. If it doesn't happen, so be it, but once it does, we can still take a safe pullback. $BCH
3. As for ZEC, it has a more regular pattern. Yesterday, Shuqin specifically mentioned that ZEC might test the peak a second time, and that it would fake break to 560, allowing everyone to short around this area for the second time. As shown in the chart, we indeed shorted completely, with live trades, closing part of the position near 520 for profit. $ZEC
4. Ethereum has recently attempted to rebound, but it seems the whale's power is insufficient. Every time it rises, it gets suppressed by larger funds, and someone has been selling around 3000. Yilihua is making clothes for others, becoming the exit liquidity for ancient whales. In the end, will the whales win or can Yilihua withstand it? We believe there will be results soon, and Yilihua's bullets are almost out. $ETH
From the candlestick chart, ETH resistance at 3060 is still acceptable, but we have already shorted once. The best place for a second short is around this resistance at 3170. There are large sell orders nearby; if it comes, short it, if not, then it means Yilihua is gone.
5. Therefore, trading points for cryptocurrencies are never based on guessing. In addition to candlesticks, on-chain and exchange data must also be considered. Only by doing this can you know yourself and your opponent, and operate vigorously every day~