Good evening everyone, tonight's evening report is here.
Let's start with the morning's orders, most of them have already entered the market. Ethereum is relatively weak. For those without positions, choose to short Ethereum. Bitcoin is quite strong. The evening entry strategy will be discussed at the end, so please be patient and read on. If you haven't followed yet, please help by clicking to follow and give a thumbs up!
First, let's talk about the Nasdaq. I mentioned the Nasdaq this morning. The Nasdaq has not hit the bottom in the short term, there is still at least 2% room left. No rush. The probability of the Nasdaq falling while Bitcoin rises alone is still very low. So simply put, we are still bearish. The 66800 pullback has already reached 6000 points. Currently, I am not very satisfied. Let's see the performance after 10:30. The fluctuations in the early morning will be relatively large, and with the U.S. elections in the past few days, those who cannot handle this volatility should not open positions; just watch quietly.
At $BTC , the pressure levels for Bitcoin tonight are 69180, 69590, and 70000. The 7W trend line has been mentioned for many days. If it stands firm here, I will take profit on the short position. The support levels below are 68488, 68000, 67500, 668000, and 66000.
At $ETH , the pressure levels for Ethereum tonight are near the trend lines of 2465, 2480, and 2500. If it stands firm, I will take profit on the short position. The support levels below are 2420, 2400, 2380, 2350, and around 2300.
Evening strategy summary: the bearish stance remains unchanged. If you entered this morning, you have already done so. The Bitcoin position is slightly off. Tonight’s entry strategy: short Bitcoin at 69000-69300, same as last night, with a stop loss at 7W. Take profit based on the support levels. For Ethereum, the position of 2450-2460 is relatively good, with a stop loss around 2500. For aggressive traders, 40-50 is also acceptable. Feel free to do so. Take profit based on the support levels. My target pullback level has not been reached; let's see the drop over the next couple of nights. If it doesn't drop, I will take profit. I'm starting to struggle to hold on. If you have any questions about the trades, feel free to leave a message.