In the past 24 hours, a total of 242,260 people worldwide have been liquidated, with a total liquidation amount of $866 million ! After forming a top signal around 7:00 AM this morning and the highs of Friday and Saturday, the market experienced a rapid and precipitous drop, dealing a heavy blow to the bulls. At this moment, the market is still hovering at low levels, with the bulls and bears hesitating and fighting amongst themselves. The only drawback is that there has been no follow-up with increased volume for a second wave of sharp decline.
North American markets are closed tonight, so the market is entirely dominated by Asian bookmakers. Remember, don't trade recklessly when the market is unclear. More trading doesn't necessarily mean more profit. The more FOMO you experience, the more you need to restrain yourself. Impulsive trading usually leads to disaster!
Reasons for the decline
1. Trump prepares to impose tariffs on eight European countries, launching a new tariff war.
2. Declines in US and European stocks dragged down the crypto.
3. In the past two days, spot ETFs have started to see net outflows, indicating capital flight.
BTC
BTC95K failed to break through and retest support, forming a "gate" pattern. The narrowing of the 2-hour Bollinger Bands last night is also a sign of an impending major price movement, while the overall trend continues downward.
The morning session closed with a bearish candlestick with an upper shadow, marking four consecutive days of decline. The daily chart suggests that the first touch of the bullish OB (oblique resistance level) will provide some support, and this view will remain until the price breaks below 89242.
The support range is 90,000-92,500. This is the first time we've touched this level, so it's likely to be a support level and there's a chance of a rebound. The resistance levels are 94,500 and 98,000-99,000.
ETH
ETH failed to break through the previous high resistance level. After multiple rebounds and tests of the upper Bollinger Band on the 2-hour chart, it suddenly crashed, breaking through the neckline at 3250 and then plunging. Currently, it is showing a trend of consolidation.
ETH's daily candlestick chart shows consecutive bearish candles with gradually decreasing highs. The hourly MACD death cross and is trending downwards, indicating a clear pullback. The next short-term target is 3080.
$Cryptowinter
CZ has repeatedly recalled his live-streaming sales on Twitter, noting that he managed to pull the market value back up from a low of tens of thousands. This raises the possibility of a conspiracy to launch an Alpha product. Currently, the downward trend is obvious, and a return to around 1 million would be more appropriate. I will look for opportunities to re-enter the market once it stabilizes.
SANTOS
SANTOS, the leading cryptocurrency on Binance Fancoin, is poised for a move. The Euro Cup narrative suggests major players have already entered the market to accumulate tokens. SANTOS has pulled back from around 2.45; this minor pullback can be ignored. Those aiming for a doubling in value should consider their own investment strategy. It won't immediately surge to the top, so be patient. Fancoin is the next cryptocurrency with higher certainty, and CHZ and ASR are good candidates to look for entry points.
RIVER
RIVER is clearly a manipulator of funding rates, and a large amount of funds is about to be unlocked this week. The recent 24-hour trading volume of 57.77M seems to be booming, but in fact it has shrunk by more than 30% compared to the intraday peak. This is a typical signal of exhaustion of volume before the pump and dump.
RIVER is not recommended for long; observation is preferred. Short positions can be short lightly on rallies. Enter positions when resistance is encountered in the 28-28.62 range, with a stop-loss above 29. The initial target is 25.21, extending to 22 if it breaks through. Avoid being misled by short-term fluctuations.
VIRTUAL
The price of the coin plummeted this morning, following the broader market decline, briefly dipping to $0.78. Going forward, we should continue to monitor three specific factors:
First, is the support level between 0.78 and 0.85 stable? Can the price recover after a surge in trading volume?
Second, was Robotics' announcement at the end of January a genuine move forward, or just a series of announcements?
Third, will Leaderboard's revenue come from internal ecosystem circulation or from external paid services?
$1
$1 stopped falling and started to rebound. I hope the second phase can go even higher. As a coin that broke away from the narrative of the two saints and quickly reached 10M in one day, I think its value is self-evident. With a $1 bottom pool, hundreds of millions of traffic spread, potential response from CZ and He Yi, and Musk, those who know, will understand.
The market is constantly changing, so 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!
Every market crash is followed by a golden opportunity. Those unsure about future market strategies can follow Sweet Dream (or add WeChat: RFGH8689).
