chz has started, and there are about two months left until the World Cup. Generally, favorable news is speculated in advance, so I've been keeping an eye on it. It dropped to around 0.034, and my limit order is at 0.03, just a few points off, so I'm preparing to enter directly.
Currently, the price is continuously rebounding and has already broken through the resistance line. This segment might be starting to speculate on the World Cup market. You can make a medium-term order, entering in batches within the current price range of 0.036-0.034 for low-leverage long positions. Doubling your investment shouldn't be a big issue, so I'm preparing to hold for a while.
The Eth short-term continuous decline has accelerated, and this decline trend has dropped from around 2380 all the way down to 2k, basically all the gains from the previous period have been reversed. The expected low point was slightly off, originally this expected low point was in the range of 1900-1920, and currently, the lowest point has reached around 1965u.
So pay attention to how strong the small-level rebounds are. If they are still very weak, then it may go to this range. I will temporarily not engage in the tail, and wait for a very obvious stop-loss signal before entering operations.
Btc has been continuously declining in the short term. This downward trend not only missed opportunities but also resulted in two stop losses when trying to catch a rebound in small-scale trades. The pullback after the failure of the 72,000 shoulder-bottom breakout should not have been an attempt to catch a rebound. Operating against the trend was also a very basic mistake, as getting overexposed easily affects judgment; this is a lesson to learn from.
Currently, this downward trend has dropped to around 65,000, which is also the low point from the decline that started from the 76,000 high. At that time, after shorting around 75,000, the target was also to see around 65,000. However, I couldn’t hold it for that long, and I thought it wouldn’t drop smoothly to that point, expecting repeated rebounds before falling. Additionally, I didn’t anticipate that it would drop so smoothly to that level based on the news.
Here, the 65,000-63,000 range is considered strong support and is also the lower edge of the bearish wedge seen on the daily chart, with significant support strength. Moreover, on the 4-hour chart, the downward momentum is continuously decreasing. Therefore, I will pay attention to whether this range can hold. If it holds, there is hope for a rebound; if it breaks below, we will need to look for new lows. The liquidity is a bit poor during the weekend, so I won’t make any trades for now and will observe the situation for a while.
The small-level BTC has temporarily stopped falling. From the liquidation chart, the chips below have almost been cleared, and there is still a batch of chips around 68,000. It is clear that there are still quite a few chips above, and the small-level has shown a stop-fall signal. Here, either it will retrace to 68,000 to clear out the chips before starting to rebound, or it will go directly up to clear the chips above 70,000. The probability of a short-term rebound is quite high.
The counter-trend has failed, every time just to eat this rebound and get beaten, indeed one cannot go against the trend, now it has become honest, what a loss!
The drop in BTC at this small level is not too bad, ETH has dropped a bit more, but it has reached the accumulation position. I just added a bit at the current price to lower the average price. If it continues to drop rapidly, I will need to decisively cut losses.
Isn't it just me who is shouting too much? Why is everyone watching the big crash? It can't drop further; at least it has to rebound once before it starts the big crash. So when is the time to not go long?
BTC and ETH have started to pull back on a small scale, and we have now reached a position to buy. Therefore, I am preparing to enter the market to buy, leaving a position for additional purchases to catch a wave of rebound.
The short-term price of ETH just touched the neckline position but did not break through and was pushed down. The selling pressure above is quite severe, and it is estimated that a pullback is needed to continue digesting the selling pressure. Therefore, the next focus should be on the lower right shoulder low point. As long as it does not break down, there is still a chance for a rebound. So be prepared to enter long near the pullback around 2130-2100.
The short-term price of Btc was knocked down again after reaching the neckline of the head and shoulders pattern, indicating that the selling pressure above is still relatively heavy. However, as long as it does not break below the low of the right shoulder, there is still a chance to attack again. Therefore, continue to wait for a pullback to consider entering a long position, with the expected points around 70,000-69,500 to enter long.
ETH is about to reach the neckline position, after a day of fluctuations the price continues to rise, showing a slightly stronger trend. The selling pressure at the neckline position has been mostly digested, and we are about to face a breakout. Once it breaks out, there will at least be a wave of accelerated upward movement, and in the short term, we continue to expect a significant rebound.
In the Btc4h timeframe, although several consecutive candlesticks have left wicks, the bottom price is continuously rising. This kind of movement indicates that the selling pressure above is being digested. The wicks suggest that the selling pressure at the neckline is still somewhat heavy, but the bulls are pushing the price to continuously digest upwards. Once the digestion is complete, there is a high probability that a large bullish candlestick will occur.
It is currently a period of easing in the war, so short-term prices will continue to rebound for a while, which is a small benefit. Coincidentally, a head-and-shoulders bottom pattern has emerged in the short term, which will accelerate a rebound. After reaching a high point and then continuing to drop, the idea of going long in the short term and then shorting is not wrong; the probability of this is slightly higher, unless Trump comes out and continues to draw lines, which may invalidate the pattern.
There is also a rebound demand for ETH in the short term, and it is in a head and shoulders bottom formation. Moreover, a bullish rectangle has been formed during a small degree pullback. The right shoulder has been completed, and as long as it does not break below 2100, the head and shoulders bottom formation is basically established. Once the formation is established, the high point will be at least near the previous high.
From a small degree perspective, a bullish rectangle has been formed. Currently, if it is weak, it may pull back to around 2130 and then start to accelerate the rebound. If it is strong, it may directly rebound upwards. Therefore, I plan to enter the market in batches at 2130-2100 to take long positions, temporarily aiming for a rebound market.
Update on Btc analysis: The short-term price was knocked down after reaching the resistance line, with the lowest point dropping below 69,000, and then it bounced back. From a technical perspective, a head and shoulders bottom pattern was formed here, and the minor pullback has confirmed the low point of the right shoulder, so I've temporarily given up on shorting.
Currently, attention needs to be paid to the resistance line in the upper neck line range of 71,500-72,000. If it breaks through, the head and shoulders bottom pattern will be established, and the pullback high is expected to approach the previous high. Considering the formation of the head and shoulders bottom pattern, I plan to prepare for a pullback to go long, expecting to enter long positions in batches around 70,000-69,000, including both 1-hour and 4-hour levels which also show a head and shoulders bottom pattern. Therefore, the probability of a short-term pullback is relatively high, and for now, I will watch for a rebound trend.
BTC and ETH short positions are still making a small profit, so we can take some profits now and wait for a higher position to short again. The lower levels are a bit tough, and I estimate we need to hit a small higher point first.
No wonder a2z suddenly skyrocketed a few minutes before being taken down. Looking at the contract holdings, they are close to around ten million. The price has fluctuated significantly in the past couple of days, and it is highly likely that the market makers built long positions at low levels, leading to large price swings.
Then, just before being taken down, they pulled it up sharply to complete a short squeeze. If it suddenly skyrockets and doubles, it will hit the liquidation point for short positions, creating a chain reaction of liquidations. The liquidated shorts will serve as fuel to push the price up again. If the price can stabilize at a high level by five o'clock, the long positions built by the market makers at low levels will automatically close, so there is no need to worry about the price dropping due to a lack of counterparties. Therefore, it is highly likely that this is the reason for the sudden doubling.
The sign looks good, it has oscillated for a long time in the early stages, and the low-level chip accumulation is basically almost done. Moreover, the front-row holdings of over 90% indicate a high control of the market. This coin has been rising for a long time, the price has not fallen, and the holding volume is quite large, so there is a high probability that this coin will continue to take off. The low-level dog traders have probably built up quite a few long positions. If the funding rate turns negative, we can make a profit from the funding rate. The probability of a short-term explosion of long positions is very low, and the probability of a crash is also relatively low; if it were to crash, it would have already done so a long time ago.
In terms of shape, the daily level is temporarily predicted to be an ascending wedge, and the smaller level is in a pullback phase. The lower side is about to touch the lower support line, so it is advisable to enter long positions around the current price of 0.052, and it is expected to add positions near 0.05. If it breaks below 0.048-0.049, just stop loss decisively. Once it rises again, the target is at least above 0.07; the cost-performance ratio is still quite high, and it can be a chance for a second rise. $SIGN
The big pancake and ETH short positions can set a breakeven loss, with costs basically above 71,000 and 2,180, right? The ETH profit is quite good; those with heavy positions can take some profits in batches and leave part of the position to continue holding.