In the past 24 hours, 93,668 people worldwide have been liquidated, with a total liquidation amount of $260 million. The next two days are crucial for BTC and ETH. Last night, the market finally saw a slight rebound; whether this rebound can continue in the 1-hour/2-hour charts depends on the market's performance in the next two days!
BTC
BTC closed with a bullish candlestick with upper and lower green candle this morning. Currently, BTC is forming an ascending converging triangle, with 78,000 acting as both support and resistance. Both bulls and bears have opportunities, but a breakout would likely lead to a pullback, indicating strong selling pressure above. 76,000 has temporarily formed bottom support, and the number of pullbacks has proven reliable. A pullback could be a long to go long.
(1) The rise from 76014 to the present is considered a rebound. The resistance levels for the rebound are 78300 and 78800. After the rebound, it will fall again.
(2) The 4-hour bearish OB is 78800-79600, where there is significant resistance. Consider continuing to short.
ETH
ETH is in a minor rebound phase, but the momentum is slightly weak. The low point only reached around 2074u. It has not yet broken through the key level on a minor scale. The upper resistance line is around 2160. Once this level is broken, it should at least touch above 2200.
The current plan is to wait for a strong rebound before considering short. For now, we are focusing on the strong resistance level in the 2200-2230 range, which is also the resistance line that has been converted from the lower edge of the triangle pattern. We will watch whether it can break through.
TON
TON is performing well and looks poised for a second upward move. At the current price of 2, a low-leverage long position could be considered, with a stop-loss at 1.75 and a target around 3. Recent market activity and positive news make another high point quite achievable.
MITO
MITO has just rebounded with both volume and price rising, and open interest has surged, indicating that the major shareholders control it by more than 99%. The spot price has risen to 0.049, while the spot price is only 0.045. Short covering is putting pressure on the market, and a short squeeze is likely to continue.
The contract funding rate has reached 0.87%. At this point, it depends on whether the big players want to push the price up. As long as they have enough money, they can keep pushing the price up like they did with Rave.
HYPE
The crypto experienced a sharp drop followed by a surge in HYPEb, nearing its all-time high of 62. Significant resistance is expected near this previous high, typically leading to a substantial pullback. The plan is to short a contract around 59, aiming for a profit target of 52-53, followed by a stop-loss order if it slightly breaks above the previous high. The risk-reward ratio seems favorable.
Use a small loss to cut your losses and aim for a decent pullback. Be wary of false breakouts; if it breaks out but then falls back, it's a false breakout, and we can open it again.
ZEC
ZEC, a veteran privacy coin, has recently experienced a continuous surge, propelling its market capitalization into the top 11. ZEC has now reached over 670, with trading volume exceeding 1 billion USD. Looking at the daily chart, a break above 700 likely opens up potential for the previous high of 800. I've been positioning myself around 600, with a short-term target of around 750. After reaching this level, a pullback is highly probable (to consolidate and accumulate more shares) before another push towards new highs.
