In the past 24 hours, a total of 99,679 people worldwide have had their accounts liquidated, with a total liquidation amount of $288 million! Today's market is mainly volatile, a crucial period for testing support and confirming whether the upward trend can continue. Coupled with the market's speculation surrounding the non-farm payrolls report, it is a good phase for indicator correction.
Good position management requires patience. Set a trading plan with profit targets and stop-loss orders, and treat the current market situation one step at a time. The market may be lukewarm, but you can't be the frog in the water!
BTC
BTC closed with a lower shadow and a bearish candlestick this morning. After breaking through the previous high of 94588, BTC formed an M-top and pulled back, eventually completing a head and shoulders top pullback near 9.15. Currently, the rebound is weak, and the struggle around the 90000 mark continues. If it doesn't break 90000, consider a long position with a narrow stop loss. If it breaks down, consider a short position with protection.
1) This decline is testing the support level around 90,000. As long as it doesn't break below this level, the market is healthy. At this point, shorting is not advisable, as a rebound from the support level is possible.
2) There is some support structure at the upper edge of the oscillation range of 90000-91000. You can choose to go long in the short term. When it pulls back, pay close attention to the support around 90100. This is the position where the resistance and support of the previous long-term narrow consolidation range have been interchanged.
3) There are many untapped areas above 95,000 with abundant liquidity, which will likely attract price increases. Once 98,000 is reached, be aware of the risks.
ETH
Last night, the lowest point was 3123. ETH formed a Double Top at 3300 and completed a 1:1 retracement from the head to the neckline near 3130, forming a head and shoulders top structure.
(1) The current rebound is a bit weak, and a small-scale oscillation has formed here. 3212 is a minor resistance, and 3237 is the 61.8% retracement level of this market. 3130 is an effective support level, which is also the position where support and resistance are interchanged.
(2) Alternatively, you can wait for a small-scale breakout of this oscillation range long, and set a stop loss if it falls below the 3130 area. The upper limit (TP) can be set at the previous high and the 3420 area.
(3) Short at 3237 on the left, defend the previous high of 3307, and target 3167 and 3130; Long at 3130, defend 3060, target 3200 and 3237, and close the position at 3300.
UNI
Currently trading near the lower edge of a long-term consolidation range, a bearish pennant pattern has formed on the 12-hour chart, indicating continued bearish sentiment. A short position is recommended at $5.74, with a stop-loss at $6.43 and a target of the strong support level at $4.09. Closely monitor for potential downtrends.
Binance Life
Binance Life's listing on Binance still couldn't escape the "listing-end" curse of Broccoli/TST/GIGGLE. After rising 50% from the bottom, Binance Life's spot listing only lasted one day before falling back to the starting point. Now, BSC's meme is failing to rise on the secondary market because the game is too transparent and the consensus is too clear. What expectations you are betting on at each stage, and who your counterparty is, are all crystal clear.
1. By placing a contract to buy and then holding the spot market, the funds that have entered the market due to news trading and the influx of funds into the spot market are being targeted.
2. Those who bought into the spot trading news were actually snipers, while those who manually traded the spot market using FOMO (Fear of Missing Out) were lying in wait.
3. After the spot market opens, those who had previously positioned themselves will be dumped on the spot FOMO (Frequency Inquiry) market, essentially becoming easy targets for retail investors.
4. Once the watering is almost done, another group of people will come to ambush the "Two Saints" (a nickname for a popular online figure), specifically those who will become "fomo" (a term for inexperienced investors) after the "Two Saints" have finished their pep talk.
5. The last one to run the slowest but actually believed it paid the bill.
Life is currently in its fourth stage. What strategy should we adopt now? Wait for the two saints to give their endorsements, then short sellers, those who have been lying in wait, and those who are trapped should all pour water on news trading and those who truly believe.
ZEC
ZEC prices are currently cooling down and consolidating in the $450-$460 range, near key equilibrium support and the uptrend line. The formation of higher lows is a typical healthy consolidation at high levels, rather than a distribution phase where patience is needed for a breakout. After compression, expansion is often followed.
Support levels: $450/$430; Resistance levels: $480-$500.
Market conditions change rapidly; entry and exit points should be determined based on real-time market conditions. Follow the trend after a breakout! Regardless of your confidence level, strictly adhere to stop-loss and take-profit strategies! That's all for today! Follow me and you won't get lost! Every market crash is followed by a golden opportunity. If you're unsure about your future market strategy, follow Sweet Dream on WeChat: RFGH8689
