BTC's price action is exactly as I predicted! This short-term drop accelerated, failing to hold above 93,000. Yesterday I mentioned that short above 93,000 was a good entry point; those with an aggressive trading style should have entered then. It then dropped again, reaching a low around 89,000. My initial short target was 88,000, which was slightly off, but overall it was within my expectations.
The rebound in the market is unlikely to be very strong. If it falls below the 90,000 to 89,000 range again, there will be another significant drop. Therefore, I'm not considering long in the short term; I'll wait for a suitable opportunity.
After rebounding to around 3250, ETH experienced another wave of accelerated decline! I didn't dare to trade ETH yesterday because its trend was still slightly stronger, so I didn't open any short positions and only traded BTC. Now, after such a sharp drop, the rebound is clearly weak.
Two possibilities lie ahead: If the market is slightly stronger, it might rebound to around 3150, then continue falling or even experience a sharp drop; if it remains weak, it might fluctuate for a couple of minutes before heading straight down. Once it breaks below the lower support line, it will most likely test new lows. I really don't recommend long buy the dips now; wait for a more suitable opportunity!
Congratulations to those who have been following my analysis these past few days! You've made a steady profit whether long or short. My predicted entry points have been almost spot-on, occasionally a little off, but the overall trend has been correct. I short at the highs of rebounds, and even hit the lows of price spikes. I've had a firm grasp on the BTC and ETH market movements these past few days.
HYPE: Actually, I'm quite optimistic about HYPE. Although it's currently trending downwards along with the broader market, it's been relatively resilient compared to other cryptocurrencies, showing a gradual downward correction. On the 4-hour chart, you can see it has formed a descending wedge pattern, indicating slightly weaker performance on smaller timeframes.
The key support level to watch is the 25-26 range. If it doesn't break below this level, based on the wedge pattern, the rebound could reach around 36U. Therefore, once it falls to near this support level, it's a good time to consider going long, as it offers good value.
SOL: You can buy directly at around 133 (at market price)! Set a stop loss at 127, and take profit at 136, 140, and 143. This wave can be traded as a trend trade; just hold and follow the market.
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).
