In the past 24 hours, a total of 89,021 people worldwide have been liquidated, with a total liquidation amount of $181 million. The market is currently trading in a narrow range. Last night, both the North American and European/Asian sessions showed little volatility, merely completing a standard double bottom with reduced volume. ETH showed a bullish divergence, but it held up at key levels. The current trend suggests a potential rebound, and the probability of a rebound tonight is very high, increasing further into the night.
BTC
After BTC broke below the key support level of 94,500, the overall rebound was weak, forming a narrow trading channel between 92,000 and 93,500. There is a chance that it will retrace to the resistance level near 94k after the US stock market opens tonight. If it does not rise, consider shorting with a target of around 88-90k.
In the current structure, the bullish trend within the downtrend on the daily chart is still intact, and the price is still in the process of retracing to the support of the bullish trend. Intraday trading should mainly focus on the exit segment on the 4-hour chart.
1) Short-term support is at 91195-90480. Within this range, a rebound is more likely than shorting.
2) The key resistance level is around 94500. The 93660-94466 range is where the previous breakout occurred, and there is a possibility that the support and resistance levels may have reversed.
ETH
From a daily chart perspective, Ethereum's trend is similar to BTC, oscillating between the MA60 and MA120 for the past few days. Intraday trading is slightly weak, with a focus on shorting on rallies and buying on dips as a secondary strategy. Key levels to watch are the 3220 resistance level and the 3100-3000 support level; a breakout will determine the direction of the trend.
The upside resistance levels to watch are 3220 and 3280. Short positions can be initiated around these levels. Downside targets are 3100, 3060, and 3000. The 3000-3100 range is a relatively strong short-term support zone. After a period of consolidation, there is potential for another attempt to break through the previous high of 3400.
Dogecoin
Dogecoin has plummeted again, but the current price has strong support. The long shadow line and high volume are good news. The daily and weekly charts are showing signs of bottoming out. In a downtrend, it's best not to predict the bottom, so I'm looking for the bottom but not saying it.
There is currently strong support around 0.12; we await further consolidation to recover lost ground. We are waiting for a clear structure to emerge on the 4-hour chart.
LIT
LIT lacks the momentum to drive up its price as the major shareholders haven't accumulated any shares. Since LIT fell from 4.3, retail investors have been consistently selling, leaving the major shareholders with no opportunity to consolidate and accumulate shares. HYPE, on the other hand, plummeted from its high of 45 to 9, consolidating for two months before rebounding, while LIT has been listed for less than a month.
In fact, short is simpler in logic than going long. Long is like the "barrel effect"—it can't function without a single plank. Short, on the other hand, is like the "broken window effect"—you can find profits by exploiting the weaknesses.
BCH
Since April of last year, BCH has maintained an upward trend. Although there have been deep pullbacks, and even brief dips below key chart levels and EMA support, it has always managed to recover its losses within a few days and return to an uptrend.
Therefore, my judgment framework remains clear: as long as BCH does not substantially break below the EMA200 (excluding false breaks), I will continue to bet that it will eventually experience a weekly breakout rally. I only trade spot, not futures.
ASTER
The ASTER project team and VCs had extremely low costs, less than 0.05u, meaning they could still make dozens of times the profit even now. The project team's increased holdings are just for show; their real intention is to sell off large quantities through various accounts and cash out.
ASTER's demand is insufficient to absorb the massive selling pressure. The early TGE saw a huge increase, but profit-taking and continuous unlocking have led to a continuous decline. If you buy the dips, there will be endless lows to buy at, and eventually the project will be sold to you!
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 sharp drop is followed by a period of great potential. Those who are unsure about future market strategies can follow Sweet Dream (or add WeChat: RFGH8689).
