Master's Hot Topic Discussion:
On Monday, let's first talk about the time nodes of this week's news. On Tuesday evening at 21:00, Federal Reserve Vice President Jefferson will speak. What he says might reveal the Fed's next move, which could have a significant impact.
On Wednesday, the G20 meeting, where global leaders will gather to discuss the economy, will certainly cause some market reaction. On Thursday at 2:00 AM, the Federal Reserve's Wedge Book will be released, which may also bring uncertainty factors that could cause significant market movements.
Speaking of market movements, the current market is like a fish tail, and both long and short positions must set stop losses. Retail investors are getting confused, and market makers may manipulate the market using information at any time.
Regarding BTC, after oscillating sideways for a week last week, it finally went up this morning. But don't get too excited, as it immediately hit the resistance level around 88k, which has been defended since March 24th.
Over the weekend, a bunch of unknown Altcoins suddenly went crazy like they were on steroids, and BTC pulled up more than 2000 points in the Asian session on Monday. Master thinks that since US stocks haven't shown much movement, this might be the result of internal circulation of funds in the crypto circle. Of course, this is just Master's personal speculation.
As the main force of BTC chose to break upward this morning, the price is now running in a strong oscillation zone between 86.3k and 87.7k. If it can close firmly above 87.3 in the next two days, 90k will likely be stable.
Although it broke through 86k's suppression, the 5-day and weekly lines have pulled back from their high points. If it can break through 88.8k, the ultimate high point above would be 91k.
So only by breaking through and holding 91.7k can it be considered a trend reversal, and then it can move towards 95-100k. Last week, 86.4k was tightly suppressed, and after sideways movement for over a week and morning Asian session pull-up, it needs to first break through 88.8k and then hold steady to reach 91k.
Regarding Ethereum, the key point is to break through and hold 2660 firmly. Only then can it potentially see 4k. In the first half of this year, it created three tops: 1912, 2112, and 2320. So the road is still long, and if the much-hyped upgrade can't drive momentum, it might be considered useless in the short term.
Master's Trend Analysis:
Resistance Levels Reference:
First Resistance: 88500
Second Resistance: 87700
Support Levels Reference:
First Support: 86800
Second Support: 85800
Today's Recommendation:
From a technical analysis perspective, a green candle has appeared on the current chart, and the price has entered an overbought area. If you want to wait for a correction before entering a ultra-short-term long position, pay attention to whether the overbought state will continue.
The first resistance at 87.7k is the first previous high in a dense price area. If a pullback occurs, there might be a chance to retest after breaking through. As for the second resistance at 88.5k, you can observe the adjustment intensity in a shorter time frame to find an opportunity to buy during the pullback.
If the price corrects, the first support at 86.8k is a previous high point area. You can consider finding an entry opportunity in the range of 86.5 to 86.8k. However, this support level may not hold completely and might briefly break, so the adjustment range is roughly around 86.5k.
The second support at 85.8k is the high point of last week's sideways box and can be used as a key support reference. If it breaks below this level, market sentiment might turn bearish.
4.21 Master's Swing Trading Preparation:
Long Entry Reference: Not recommended at the moment
Short Entry Reference: Light position short at 87700-88500 zone, Target: 86800-85800
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