In the past 24 hours, 73,877 people worldwide have been liquidated, with a total liquidation amount of $160 million. BTC and ETH have largely followed the expected pullback and rebound. Today, continue to monitor pullback opportunities in BTC and ETH, setting stop-loss orders for each dip. As long as one dip doesn't hit your break-even stop, and the indicators correct and the expected rebound occurs, your initial position should have yielded a decent profit!
BTC
BTC has seen five consecutive days of decline and continues to trade sideways with no signs of a rebound. As long as the price remains below 77,400, it has the potential to continue falling. Holding above this level would suggest further upward movement, while a break below would likely lead to a significant pullback. The battle between bulls and bears is intense; the outcome will be clear in the next couple of days.
(1) The 1-day moving average has just shown a bottoming signal, but it cannot be confirmed that the bottom has been truly reached because the 2-day and 3-day moving averages are still bearish.
(2) If 76250 can be held, this is the short-term buy the dips point. 76250 is the lower edge of the small box of 76250-77400. If 76250 is broken, the buy the dips point is at 75086/74850 (the middle line of the 3-day Bollinger Band, strong support).
(2) Resistance: 77400, 78800-79600 Support: 74800-76200, 73600; the 4-hour support below is 74800-76200) There may be a rebound, but it is just a rebound and the strength is unknown.
ETH
ETH is currently in a typical weak downtrend channel, with rebounds all showing weakness and failing to break through key resistance levels despite repeated tests. The bearish momentum is very stable, and the only suitable strategy is to sell on rallies; buy the dips short and going long are not recommended.
Ethereum's resistance level is around 2150-2200, where short positions are likely to be established. Support levels to watch are 2100, 2050, and 2000.
Tonight, late in the night, the Fed meeting minutes and Nvidia's earnings report will be two key pieces of information that could cause sharp price spikes and dips, so be aware of the risks. The current difficulty in short-term trading lies in the inability to establish a clear bullish or bearish stance; quick in-and-out trades are the only viable option.
HYPE
HYPE has shown some signs of divergence in the short term, and the current price has jumped out of the upper edge of the value zone at $45.534. The chips above are relatively sparse. If it can hold the current support, it is expected to test the chip peak at $54.55. The core POC support below is at $38.878. Short at$54.55!
ZEC
ZEC is currently approaching the upper edge of its value zone at $578.27. If it breaks through effectively and forms support , watch for resistance at $685.5 and major support at $513.87. Short at $685.4.
GWEI
GWEI is currently stagnating at a high level on the daily chart, with extremely low trading volume. The 4-hour chart shows narrow-range trading with gradually rising lows that are not clearly visible. The 1-hour chart shows consolidation with decreasing volume and no clear direction. Key support is at $0.127-0.128; a break below this level would target $0.120-$0.100. Key resistance is at $0.132-0.1616.
Current strategy: Mainly observe, but consider a small short position; Alert level short position: $0.130-0.132 range, position size ≤ 0.5-1%, stop loss at $0.140, target $0.120 → $0.100;
NEX
Total supply: 100 trillion; initial circulation: unknown; pre-market price: 0.0000043; pool price: 0.0000015
Positive factors: 1. Coinbase roadmap; 2. Anti-airdrop, no airdrops; 3. Verified team, decent VC background; 4. 100T total supply and 5% BSC circulation will make it seem cheap.
Negative factors: 1. Tokenomics has no data on TGE, and Official Twitter doesn't seem to care about it either.
The narrative is decent, it has some buzz, but the transparency is average. The control of the tokens is unknown, there is pressure from sell orders, and community anti-fraud is almost inevitable. The total amount is unusually large, and there may be some potential risks of token collapse. Participate with caution.
MEGA
You can open a small long position in MEGA at the current price. Once it takes off, expect an initial 30% increase. Place a stop loss at a new low, around 0.079.
SKYI
SKYI's strong institutional investors are definitely still in control. Looking at the contract data, most accounts are short, but these powerful funds are using larger positions to prop up the price. This surge is mainly due to short covering. Although the shorts haven't surrendered and have even increased their positions, the majority of major accounts hold long positions.
This coin is expected to continue its upward trend after short selling, but the volatility will be high. After the short sellers surrender, there will be a rapid surge, which will be the time to exit the market.
