BTC showed signs of a short-term top and subsequently plummeted. Of course, besides the deteriorating chart pattern, the main reason for the sell-off was the negative news regarding tariffs. Even without this news, the price would have continued to fall; the news simply accelerated the decline. Despite its seemingly strong consolidation over the past few days, it was merely a sign of exhaustion.
After the minor indicators finished adjusting, the price didn't rise but instead weakened, and even the original upward golden cross trend on the major timeframe was gradually digested and disappeared. The longer the high-level consolidation lasts, the more unfavorable it is for subsequent rises. I also miss the pump on this wave. I originally predicted that it would hit another high or a near-high point before falling, so I placed a short order for 98,000, but it didn't even give me a chance, and was directly hit by a news-driven spike.
There are still no signs of a bottoming out, so this round of upward trend has temporarily ended. The key support level to watch is 90,000. If it breaks below 92,000 on a minor scale, the next target will likely be 90,000 or even lower. Therefore, don't rush to long the buy the dips now; the cost-effectiveness at this level is too low. Wait until the price falls to a lower point and the market shows signs of stabilization before entering the market.
ETH is exhibiting a classic topping pattern. After the first high, it fluctuated for a while, then created a false breakout to reach a secondary high, before accelerating its decline. This pattern, driven by a secondary high, is a typical topping formation, which, according to wave theory, is an ABC three-wave decline.
The first wave of decline belongs to segment A, followed by a wave B rebound. After the rebound, segment C, the final accelerated decline, will begin, and we are currently in the accelerated decline phase of segment C. Judging from this pattern, the first low point should be reached around the 1.618 Fibonacci retracement level. However, there are no signs of a bottom yet, so segment C may be prolonged, and the final low point will most likely fall back to the previous strong support level around 3050.
The key level to watch now is 3150, a minor support level. If it holds, it might signal a bottom; if it breaks, the next target is the 3050-3030 range. So, for now, don't try to buy the dips ; just wait for a lower point to appear.
Today, Altcoin followed the broader market downwards. BCH fell below 590 but quickly recovered; BNB is doing alright, just keep holding; ENA is a bit worrying, I buy the dips at 0.22 and it hit a new low today, holding it is painful, but I still plan to add to my position, with a target price of 0.55. As for on-chain meme, I just went for #CryCryHorse today, this token has a high probability of reaching Alpha.
DASH: This typical rapid upward trend has now begun to consolidate and fluctuate. Based on market trends and practical experience, a formal pullback is imminent.
Could CryptoWinter be the next one to go Alpha? Look, the top addresses for this coin have suddenly started buying up 1% of the tokens at a time. The previous ones—Mountain Wilds, Small Shareholders, and large MC memecoin 1—all had strong expectations for Alpha, but CryptoWinter isn't getting much discussion.
Suddenly, a bunch of people started throwing money at it to buy 1% right away. It looks like the inside wallets of the listing group are secretly setting up a scheme! Some people say it's because CZ is jinxing it again, but CZ has jinxed quite a few coins recently.
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).
