After the US stock market opened last night, the market fluctuated unusually violently, especially the performance of BTC and Ethereum, which attracted widespread market attention. The price of BTC once touched the trend line pressure near 68,000, which has lasted for more than half a year, so the breakthrough is quite difficult. As expected, BTC quickly fell back after touching this pressure area, with the lowest drop to around 64,800. Ethereum also followed synchronously, reaching a high of 2688 and a low of 2537. This round of price fluctuations has shown the violent ups and downs of the market. The two key Ethereum positions mentioned yesterday, 2580 and 2550, have performed very importantly. The first wave of retracement accurately reached 2580, rebounded to 2688, and then fell below the 2550 support. Going forward, 2550 and 2580 are still positions suitable for building long positions. The market is likely to fluctuate significantly today, mainly because the pressure above BTC is relatively large, but there is strong support below, so the current adjustment is actually a healthy market performance.
The upward trend of BTC seems healthy, and from the trading volume, this round of rise is effective. However, the trend is not stable and is always fluctuating back and forth. Therefore, building long positions at low levels is still a relatively feasible strategy. Especially for Altcoins, it is recommended not to chase high prices easily, so as to avoid the dilemma of chasing high and falling, or being stopped out by market fluctuations. In such a market environment, finding key positions and building long positions at low levels is a relatively stable operation strategy.
Yesterday, there was some minor friction between South Korea and North Korea, which caused a certain panic selling sentiment in the market, and the A-share market was affected to some extent. But as the market often says, when others are panicking, we should remain calm and quietly build positions. The performance of CFX was also relatively weak yesterday, with the lowest retracement to around 0.164, which can still be patiently invested. In the short term, it is necessary to pay attention to the trends of the A-share and Hong Kong stock markets. From the performance of the opening today, the A-share market did not continue the panic sentiment of yesterday, so maintaining patience and continuing to invest is a relatively stable strategy.
The key for BTC at the moment is still the pressure around 68,000. Although strictly speaking, the previous downward trend line has been broken the day before yesterday, whether it can effectively stand firm at this level still needs further market verification. If the trend pressure line formed by connecting the previous two highs is taken as a reference, the market has shown a certain breakthrough signal. Considering the market performance in the past October, I am relatively optimistic about the subsequent trend.
For Ethereum, whether the high point of 2688 yesterday can create a new high is the focus of the market today. It is expected that the market performance today will fluctuate between the high and low points of yesterday, and 2550 and 2580 are still worth watching in the short term. Overall, the market trend is developing in a positive direction, but the reversal still needs time to brew. Therefore, investors should be patient, hold positions and invest in the varieties they are optimistic about, and wait for the arrival of the trend.
In summary, the current market is in a volatile stage, whether it is the US stock market, A-share market or cryptocurrency, they are all experiencing a round of adjustment and fluctuation. Investors should grasp the key positions, maintain patience, and especially when the market is panicking, they should not rush to sell, but quietly build positions and wait for the arrival of the trend.
Finally, there are actually a lot of things that haven't been written in, such as specific opportunities, specific decisions, and these things are often not something that can be summarized in an article.
To learn more information or if you have any doubts, follow the public account: Crypto Conan to get more wealth codes!
