In the past 24 hours, the global cryptocurrency market has once again witnessed a double whammy for both bulls and bears. Data shows that a total of 97,321 people were liquidated, with a total liquidation amount of $275 million. Overnight, some rejoiced while others grieved.
BTC and ETH rebounded as expected in the early morning, but don't be impulsive! Today is not the day to blindly chase the rally; the key is to observe the strength of any pullbacks during the day.
BTC: Short-term opportunities exist for both bulls and bears.
Bitcoin closed with a large green candle this morning, and a bottom is beginning to form on the daily chart. It also broke through the daily EMA7 later in the night, indicating renewed strength on the hourly chart. The 6, 8, and 12-hour charts are now aligned with the oversold rebound on the 4-hour chart from last Sunday, suggesting a formal start to the rebound. However, the Fed's interest rate decision next Wednesday and Thursday will likely lead to another pullback, so both long and short positions are possible.
High-altitude targets: 64250 (light position), 65250, 65750, stop-loss at 66300, take-profit at 63888-63666. If it holds above 63800 and there is significant positive news, it may first surge to around 66200, then retrace to 65500-64666.
Long: Today's support is at 62300. Small long positions can be taken between 62666 and 62450, with a stop-loss at 62300. If it breaks below 62300, consider buying in batches at 61666, 61086, and 60700. As long as 60000 holds, avoid shorting, especially below 61000.
ETH: A rebound? Caution is advised.
On the 4-hour chart, Ethereum's MACD has just formed a golden cross, but the gap is not large; the daily Bollinger Bands are still narrowing downwards, and the moving averages are also in a bearish alignment. Overall, today's rebound is more like a consolidation within a downtrend, and it will likely continue to test the 1630-1600 range.
Therefore, in terms of trading strategy, wait for ETH to rebound to around 1716 before considering short, with a target of 1680 to 1666 and a stop loss set at 1722. If 1722 is broken, then wait for an opportunity to short again at 1750 to 1772.
Altcoin
OPEN
OPEN continues its surge, nearly doubling its value, with no sign of slowing down. From breaking through key resistance levels to reaching new highs, funds are flowing in, sentiment is strong, and the upward momentum is robust. Just keep pushing!
INX
The INX index has stopped falling on a minor level and seems poised for another upward move. Continue to build positions in the spot market, entering in batches around the current price of 0.009.
SOL
SOL has just broken above the daily EMA7, but the 8-hour EMA30 (68.25) is a hurdle; avoid shorting again if it reaches this level a second time. If it breaks through 68.15, a short position can be taken targeting 70.75-71.45, with a take-profit around 67.85-66.25 and a stop-loss at 72. If 72 is also broken, the next short entry point is at 74.15 (the daily Bollinger Band middle line), after which it will likely fall back below 70. Only a firm hold above 67 would offer any chance of reaching 77-81.
DOGE
The MACD histogram on the DOGE monthly chart is still deepening, indicating the decline is not over and we are currently in the fifth wave. Fortunately, the 0.053-0.078 level is the previous area of concentrated trading volume, which should provide support for the low point of the fifth wave.
XRP
After a bearish divergence on the monthly chart, XRP has broken below the neckline and trendline, and is still searching for a bottom. The previous large green candle rose too quickly, lacking sufficient trading volume, and will likely retrace to fill the gap at 0.6342. The real strong support is around 0.5, which coincides with the POC and Fibonacci 0.786 level. Watch for bottoming signals in the 0.5-0.63 range.
HYPE
HYPE's current rise is entirely supported by deflation, with $1.82 million burned daily at an annualized rate of 2.02%, plus real revenue buybacks, making it more reliable than pure speculation. Total burns account for 4.52%, and there's nearly $2 million in daily buying pressure, providing significant support. However, the current price of 58 is relatively high; don't chase it. For long-term holdings, wait for a pullback; you can establish a base position between 48 and 52. If the market panics and drops to 38-42, that would be a golden opportunity.
Reminder: Opportunities often arise after pullbacks; restraint is key to long-term survival. The Fed's interest rate meeting next Wednesday and Thursday remains a market variable; short-term traders must prioritize defensive strategies and avoid chasing rallies or selling into dips.
