Cancel the short position first, the data is unclear. Let's wait and see, brothers.
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Bitcoin has not broken through the new high, and with the early pullback, how should we proceed next? Today's thought sharing 11.1 Good afternoon, brothers, I am Brother Xiaoyao. This wave of Bitcoin testing the historical high did not break through as expected; instead, it pulled back first, which is normal. Whether it breaks or not, there will certainly be a pullback. The market will not always rise, nor will it always fall; a little pullback is very normal. Currently, Bitcoin has dropped to the daily support level around 69050. Next, we will see if this level breaks again. If it breaks 69050, the second wave of decline will start. Lower pullback support: 67500 to 66500. Today’s drop and pullback should first look at these two positions. Everyone remember, regardless of how much Bitcoin rises in the future, the first thing to remember is to live to see that day. The current immediate direction is the most important. At this high point, it is crucial for everyone to learn to take profits. In fact, the essential factor is to see through the core logic of the market. Currently, Bitcoin is still at a high position, and it is possible to consolidate around 69000 and then bounce back. Therefore, when taking any action, be sure to leave enough space. Before yesterday’s big drop, I told everyone about the core of the election data website, which is essentially sharing logic with you. Only by seeing through the market can you determine the direction and achieve certain returns!
Currently, in terms of market conditions, Bitcoin's resistance level is 70800-72500, and support level is 67500-65000. A rebound around 70000 should be viewed with caution and set stop losses to prevent a pullback impacting 73500 and leading to losses! The next two days remain critical moments for Bitcoin, so do not blindly bet on the direction; be cautious in your reference!
Ethereum currently has a short-term resistance level of 2700 to 2750, and support is 2400-2550. There are signs of a short-term pullback and consolidation around 2550 for short positions with stop losses! Due to the volatility of Ethereum not having strong regularity, the risks in contract operations for Ethereum are greater than those for Bitcoin, so caution is required!!
Summary: The non-farm payroll data announced tonight is likely to show a downward spike; after the spike, we can observe the strength of the rebound. If there is a spike upwards first, consider setting up a head short position. Currently, the market is rising rapidly and falling slowly, so strict stop losses are a must.
Operation direction: For Bitcoin, the short position setup point is around 70688 with a stop loss at 71588; take half off at 66200, and exit all at 64500 considering reversing to long. For Ethereum, the short position setup point is around 2545 with a stop loss at 2600; exit all around 2300. For SOL, the short position setup point is 168.5 with a stop loss at 174.8; exit all around 148.
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