Bitcoin experienced a liquidity crunch over the weekend, with the 4-hour chart showing a sideways trend. It then started to decline yesterday, falling below $90,000, but the market did not panic. It rebounded after the market opened this morning, but still failed to climb back above $90,000.
The market is expected to maintain a wide range of fluctuations on the 4-hour chart. The Bank of Japan will continue to suppress the bullish trend before raising interest rates. After the rate hike is implemented, the market will rebound from the perspective of the negative news being priced in. We shall wait and see.
There are many opportunities for Alpha in the counterfeit market, so we suggest you pay close attention.
BTC
BTC broke through the consecutive support levels below perfectly and rebounded after falling back to the downtrend resistance line. The support level above turned into resistance and was suppressed again. The bulls are not considering buying in recently. BTC still needs to consolidate at the current position before a result is achieved.
A small short position can be short at 89640, with a stop-loss order placed on a break above the upper resistance level. The downside target is a break below the previous low. If a second pullback occurs and support is found at the bottom, a long can be considered, targeting a break above the 89640 resistance level.
ETH
Eth is currently showing some strength, with its price action fluctuating wildly. Yesterday, it didn't break below the 20-day moving average, so a further rebound is possible. However, its current position is somewhat precarious; both short long significant risk. I'm patiently waiting for a more suitable opportunity.
The 4-hour resistance level is at 3157, and the ETH/BTC exchange rate pair has also reached a key resistance level. A breakout is needed for a better upward move. Watch the 3080-3050 range below to see if you can go long, or you can wait for 2820.
PIPPIN
Like PIPPIN, this coin keeps rising, making it impossible to short. However, when it does drop, it drops sharply in a single move. The manipulators open many long positions at low prices, maintain high control, and as the price keeps rising, there will always be buyers. There's basically no selling pressure, and pumping the price doesn't require much capital, so the price remains very stable.
ASTER
ASTER continues its downward trend with fluctuations, currently in a triangle pattern. Although CZ is bullish and has bought a lot of this coin, market liquidity is still too poor. After a surge, it immediately falls back down. There are no obvious signs of a bottom yet, and it is highly likely that the downward trend will continue. It is not recommended to buy more.
Wait for clear signs of a bottoming out before considering entering the market. Even if the overall market is still in a downtrend, just wait patiently.
ZEC
ZEC has completed a pullback after breaking down through a wedge pattern. It has now found support and shown strong candlestick patterns, suggesting a potential rebound to test the highs again. The 400 range presents a long profit/loss advantage for long positions. If the second test of the highs fails to break through the 462 range, short positions can be considered.
HYPE
HYPE is performing relatively strongly with little change, and it doesn't follow the broader market trend. Currently, it's in a descending wedge pattern, which is a bullish formation. After the consolidation ends, it's expected to break out. It's worth keeping an eye on.
BEAT
BEAT is a truly phenomenal coin. Its daily chart shows a consistent pattern of ups and downs, consolidating before a profit-taking phase. If you can understand its patterns, you could potentially make a fortune! If you don't understand and try to trade against it... well, let's just say... I'm not optimistic about BEAT in the long run, but it will definitely experience a violent surge in the short term. Therefore, waiting for the top to appear before short is the best option!
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