In the past 24 hours, 143,199 people worldwide have been liquidated, with a total liquidation amount of $353 million. A massive sell-off occurred across the board, with Bitcoin and Ethereum experiencing another surge followed by a pullback. The volatile trading pattern continues unabated, with the remaining time likely to see bearish candles dragging down the weekly chart. Once a bearish candle closes, a trend reversal will emerge, and another opportune trading opportunity will arise.
Recently, wild price swings have become the norm. As long as you manage your contract positions well and don't overleverage, there won't be any problems. Once the price drops to a reasonable level, you can start entering the spot market without hesitation.
BTC
As expected, BTC reached a high of 69288 but did not go higher than 69800, so it continued to fall after the rebound, and the short position placed at 69k was executed.
Currently, BTC's rebound failed to break through the high point twice and is consolidating, breaking down, and accelerating. There is some support in the 665 range. Consolidation or a small-scale rebound is expected. We need to observe the consolidation situation. If it is weak consolidation, the probability of further decline is high. Considering next week's CPI release, the main direction in the near term is to continue to short.
1) This is a rebound. As long as it doesn't rise above 69800, there's still downward momentum, and it will fall again—this has already proven true.
2) The 4-hour chart shows a bearish OB range of 68200-69800, with two trades occurring. The first trade resulted in a drop of $2000, and the second trade has currently resulted in a drop of $2500.
3) Prices below 6.7w, such as 66666 and 66350, are suitable for light buying on dips. It's also acceptable to avoid long positions and wait for a rebound before shorting.
ETH
ETH has been slightly stronger in the short term, reaching a high of 2167u. It has since pulled back from its high, and short positions were perfectly entered, largely in line with expectations. There's already a profit of around 70-80 points. Those still holding short positions can take profits or set a stop-loss order to break even.
Next, pay attention to the support zone of 2015-2030, which is the low point of a double bottom. Only when a bottoming signal appears can we close the short position and turn to long.
STO
The STO (Special Offered) contract is currently the top gainer, with a potential upside of 216%, a fee rate approaching 2%, and an open interest of 80 million contracts. Major players are rapidly distributing their holdings through this short-term price surge.
From a technical perspective, there is a clear divergence between volume and price. Although the price has reached a new high for the period, the trading volume has failed to expand effectively, indicating insufficient momentum for bullish buyers. Once the major players complete the high-level turnover, the price will likely enter a rapid decline phase.
The suggestion is to place a small short order around 0.95, keeping enough funds to cover further losses. If the price breaks a new high, you can exit the position and add to your short position again. Remember, use low leverage and a small position size. Once a pullback begins, you're guaranteed a small-cost, large-profit victory. The first take-profit level is 0.6.
BANK
BANK is purely speculative with no liquidity. The pump and dump is just a way to unload shares. What's rising now will fall just as quickly. I don't recommend buying spot; if you're going to do something, go short. Open a leveraged short position directly. Of course, don't just blindly short; find a suitable entry point, like the 0.055-0.06 price range!
STG
Currently, it's at a key resistance level, so a short price of 0.27, with a stop-loss at 0.3 and a target of 0.2.
AIA
AIA data showed a surge in volume followed by a decline in volume, and has now returned to the 4-hour 120-period moving average. It's a good opportunity to buy at a low leverage ratio.
