Looking at the daily chart for BTC, our previous view remains unchanged. We are currently in the fourth wave of a rebound, and the rebound high has failed to break through the low of the first wave, making the wave structure reasonable. Given the short-term topping signals, we estimate the high of this rebound to be around 79,500. After that, there's a high probability of the final downward move starting. This is only a preliminary prediction; we will revise our assessment based on subsequent market movements.
ETH: Following the previous analysis, the price action formed a triangle pattern at a high level, and has now broken down. It has not only broken the ascending channel but also breached the lower edge of the triangle's support, indicating a short-term downtrend.
Next, watch the 2150-2170 range. This is a key level where the triangle pattern started to rise, a strong support zone, and also a target price for short positions. Even if there are minor rebounds along the way, it won't change the overall downward trend. Those who placed short positions near 2400 and 2340 can continue to hold, as many have already taken profits and exited the market.
Wait until the price drops to around 2170 before reassessing the market: if the support holds, it will stop falling and rebound slightly to correct the indicators, but it will weaken again after the rebound. Hold your short positions patiently until the target price is reached, then replan your subsequent operations.
$BSB: After a sharp drop, there was a slight rebound. From the moment the major players started driving up the price, they consistently used wild swings to shake out weak hands. This tactic was extremely frustrating, making it difficult to hold positions regardless of whether long or short. Yesterday afternoon, BSB gradually weakened until around 11 PM when it suddenly plummeted, dropping over 60% in a short period, from 0.9 to a low of 0.32. Even more alarming is that just before the crash, a wallet suspected to belong to the project team transferred 5 million BSB tokens to the Bybit platform, worth approximately 3.6534 million. Tracing the origins reveals that these tokens originally came from the project team's multi-signature wallet. This kind of pre-emptive transfer and dumping has become frequent recently and has become the norm, posing a significant risk of the tokens gradually going to zero.
$RLS: The mainnet officially launched today. After the positive news, the market immediately began a pullback and consolidation, with a short-term drop of nearly 18%. However, the overall trend remains stable, with moving averages maintaining a bullish pattern and trading volume gradually recovering. Currently, the bears have a slight advantage, with trading volume exceeding that of the bulls by 5 percentage points. Overall market sentiment is cautious, and funding rates remain in negative territory.
However, there is still a chance for another upward surge at this stage. The project foundation has already begun large-scale token burning, providing fundamental support. The current price is around 0.008. Those looking to enter the market can buy on dips in the 0.0072-0.0078 range, with a stop-loss order placed at 0.0065.
$AIXBT: Today's focus in the spot market: AIXBT has broken through the previous downward channel that had been suppressing prices on the daily chart. While a rapid upward surge hasn't yet occurred, the chances of further strength are high. Now is a good time to enter the market, with a target price of 0.12 to 0.15.
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).
