The latest BTC market update shows a short-term rebound that perfectly matched my analysis yesterday. The high point just touched above 76,500, which was exactly my short point, and I successfully entered the market and held on. The 4-hour chart is still in an upward channel, but a head and shoulders pattern has formed at the top, with the right shoulder basically complete.
If it surges to 77,300, I'll add to my short position. Currently, the probability of a second rebound seems low, and this high point coincides with the 0.618 Fibonacci retracement level. The head and shoulders pattern is a clear topping signal; once the neckline is broken, a significant decline is expected, with the first target at 70,500. The neckline is at 73,800; a break below that level would lead directly to the target. Hold your short positions with confidence.
Latest ETH analysis: A double bearish pattern has now formed at the top, with a head and shoulders pattern superimposed on a rising wedge, both clear signals of a decline. The recent rebound high was right at the 0.5 Fibonacci retracement level, just shy of the 0.618. The key is whether the right shoulder can solidify; if it does, a rapid decline is imminent, potentially falling below 2170.
It's a pity I missed the short position by just 4 points. If there's another short-term rebound, I'll short short immediately. Moreover, Ethereum has already broken below its upward channel, the short-term uptrend is over, this surge was likely a bull trap, and it will probably accelerate its decline afterward.
In yesterday's article, Xianxian recommended $Binance Life$, $Lobster$, and $I'm Coming$. All long positions are currently showing a profit! Raise your hand if you followed along! Yesterday's article: Followin
Follow-up: $Binance Life : Long positions have already secured profits. Remember to take profits in batches and exit the market. You can also adjust the stop loss to around the entry cost of 0.44 to break even and hold. The timing is right.
Follow-up: $I'm here: It's also starting to take off. The long positions recommended around 0.011 are now taking off, with an increase of 20%+. I'm also holding onto Altcoin very well. In addition, long positions can now be set with a break-even stop loss. Those with heavy positions should pay attention to taking profits in batches.
Follow-up: $Lobster: The current trend is a bit slower, with the increase just over 10%, but it has been accumulating strength and bottoming out. A large green candle candle is likely to follow. If you have long positions, remember to adjust your stop-loss to your cost basis and hold them safely at breakeven.
$GIGGLE: Its market capitalization has shrunk drastically. At its peak, it was worth 300 million, but now it's only around 30 million. No matter how good a coin is, buying at a high price will still result in losses. The same applies to other popular coins; chasing high prices yields no profit. Currently, GG is clearly undervalued, presenting a high-quality opportunity at a low price.
The project is backed by CZ's long-term public welfare sector, and the combination of memes and public welfare themes gives it a long-term advantage. Among the cryptocurrencies launched at the same time, it is the only one that has opened spot trading, while other similar tokens only offer contracts.
It's highly likely that it will rise in tandem with Binance Life, as the public welfare theme can be continuously hyped. The platform can also continue to reduce transaction fees to support projects, making its price movement easy to control by funds. It has great long-term potential, so investors should pay close attention.
$ASTEROID: Today's market capitalization hit a new high of 200 million. It dropped to 90 million in the morning after a sell-off, but managed to recover and reach a new high, showing strong market support and consensus. Currently, only the Space Dogs (or similar Ethereum forks) are hot in the Ethereum space, with only a few related forks rising in tandem.
Most other new and miscellaneous cryptocurrencies haven't seen significant market capitalization growth. PUNK, which I previously thought could become the second-largest, crashed yesterday, with its market capitalization dropping to 3 million. On the other hand, the opportunity remains substantial. As long as the leading coin maintains its high level and slowly rises, several other coins with market capitalizations in the tens of millions will inevitably emerge to compete for attention. A single leading coin cannot sustain the entire sector; patience and observation are key.
$CORE: It's risen about 21% from its low point. Has anyone entered the market yet? The project uses a proprietary new consensus mechanism, relying on Bitcoin's computing power for security, while also boasting Ethereum's smooth and efficient on-chain performance. Transaction fees are low, and the processing speed is fast. It's a mainstream Bitcoin DeFi token with a total supply of 2.1 billion, making it quite scarce.
The weekly chart shows a prolonged period of low-level consolidation before a rally starting at 0.023, accompanied by continuously increasing trading volume. The current price of 0.0396 is approaching the previous high. A clear bottoming signal has emerged, opening up further upside potential.
Short-term entry and exit points: Support at 0.033, resistance at 0.0407~0.05. Those bullish on the Bitcoin ecosystem can consider buying at lower levels, but remember: position control is paramount, and you are responsible for your own risks!
$rave: The current price is too high, and I feel uncertain. Even a slight pullback could easily result in a drop of 20% or more. Short-term trading is extremely difficult; it's very easy to get trapped at a high price and lose money.
$ORDI: The second wave of the market rally is about to begin. The market has now shaken off the pessimism brought about by the negative situation. Those who still cling to old bearish ideas are likely to miss the pump on the rally. Historically, major market turning points often occur when the market is extremely uncertain, just like the March 12th crash, where the market bottomed out and then directly entered a major bull market.
Previously, the price of ORDI rose from 3 to 10 and then fell back. This was obviously the main force testing the market. Retail investors simply did not have that much capital to generate explosive growth. At that time, the open interest of the contract was even higher than the previous high. It was definitely not something that could be driven by retail investors following the trend. Everyone can judge for themselves.
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 high your confidence level, 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: 3530882667 (Add me with a note, and I'll add you to our learning and discussion group).
