Looking at the 4-hour candlestick chart for BTC, the current trend resembles a descending wedge, and it looks like the final wave of the decline. However, this pattern isn't entirely certain, as the overall trend is still downward. Considering the potential for a short-term rebound, I'm not planning to short for now; I'll hold my existing long positions. The key resistance level to watch is the 89,000-90,000 range. If the price breaks through and holds above this level with strong upward momentum, it would essentially confirm the descending wedge pattern, and the market might reverse. This current rebound isn't over yet; pay close attention to the resistance line above, and we'll make further judgments based on the subsequent price action.
ETH: I originally planned to short ETH once my long position reached the target price, but I didn't expect this rebound to be so strong. It's likely that the negative news has been digested, and many large funds have started to enter the market in batches to buy the buy the dips, causing the price to rise rapidly. Although the overall trend is still in a downtrend, the probability of a breakout in the short term is quite high.
Next, we need to focus on the 3000 level; it's a crucial point. Whether this upward move is a reversal or just a regular rebound depends on how this price performs. If it can hold above 3000 and the upward momentum is strong, then this move could directly reverse and start an upward trend, heading towards 3200. This is also why I dare not short it easily—the risk is too high.
Furthermore, the 4-hour chart has shown consecutive golden crosses at low levels. Those still holding long positions can set a stop-loss at breakeven and continue holding. If this wave truly reverses, the strength will certainly be significant. I'll consider short again once a topping signal appears. For now, abandon the idea of short and focus on the 3000 level!
Following up on BCH: When I recommended it before, I planned to buy around 520, but I didn't dare to buy when the price was right. I'll wait and see after the settlement before making any moves.
BNB: Here's my trading strategy for BNB: First, I've marked the support and resistance levels for this consolidation phase. Strong support is around 800; the closer the price is to this level, the higher the entry cost-effectiveness. The resistance zone is around 920. If you're trading within this range, this is a good profit-taking point. You can initially establish a partial BNB position, remembering to leave room for additional purchases. The initial target for this swing trading is 900-920; you can then take profits in stages.
SOL: After closing my long position at breakeven last time, I haven't entered the market again. Now, let me update my view and the possible entry range! This wave has broken through the lower support range and hasn't yet returned to the previous trading range. Logically, the vicinity of the support range, or even lower, would be good entry points. But frankly, its movement isn't as predictable as BTC, so it's best to follow BTC's entry rhythm!
SUI: The price rebounded after hitting strong support above the 4-hour chart. A long position was opened at 1.4, with a target of 1.52.
The market is constantly changing, and specific entry and exit points should be determined based on real-time conditions. Follow the trend after a breakout! No matter how confident you are, please strictly adhere to your stop-loss and take-profit strategies! That's all for today! Follow me so you don't get lost! QQ: 2178747366, QQ: 2499660658 ( Add me with a note, and I'll add you to our learning and discussion group).
