Morning Review: Yesterday, Bitcoin and ETH surged rapidly. Bitcoin rose about 5000 points from the level of 92000, and ETH broke through the resistance of 3570 yesterday. The market continues to look bullish!#比特币盘整分析
Review of Previous Content: In yesterday's content, the Shepherd emphasized a point multiple times, which is that Bitcoin's retracement strength is less than 20%, and the momentum has not weakened! He also reminded everyone not to panic or be afraid, as every retracement is a good opportunity to enter the market. As of the time of writing, the entire market is steadily rising according to our plan!
Yesterday morning at 10 o'clock, we chose to go long on ETH at the level of 3340. Currently, ETH is at 3630, capturing about 300 points, achieving about 10 times this good result with our 100X leverage! After each position is opened, we will review the operation. If time allows, the Shepherd will explain the review process and the trend of Bitcoin/Ethereum in the evening session from a technical perspective through videos! Please keep following! Due to the large number of people, please proactively send me messages for any technical questions. If you are on a dedicated strategy, you will receive my content promptly when there is a strategy! Technical issues can be discussed; please refrain from other casual chats! The Shepherd is very busy!
Today's Market: What we can see now is the small cycle chart. From the chart, we can see that Bitcoin attacked the level of 97000 at 3 o'clock in the morning. We can see that this level is a significant resistance point, which is a key position mentioned multiple times in the Shepherd's tutorial. We can see that in the previous three purple circles, the level of 97000 was a support level for Bitcoin, but later it became a resistance level! The previous three times supported at the level of 97000 and then rebounded, so this has formed a dense transaction area! Therefore, we can just look at this level for Bitcoin's high resistance during the day! Currently, the small cycle support has been broken, which is at the level of 95630!
Let's take a look at the 4H chart again. From here, we can see that Bitcoin is currently testing the middle track of the channel downwards. Therefore, what we need to pay attention to during the day is whether the level of 95000 below will be broken! The level of 91000 remains a significant support level!
ETH: ETH broke through the strong pressure at the level of 3570 yesterday. Currently, it faces a significant resistance ahead! From yesterday until now, ETH has rapidly surged over 300 points, but at this moment, the Shepherd does not hold out much hope for ETH because its performance in this bull market has been quite poor. Therefore, based on the chart indicators and selling data, the Shepherd believes that if ETH cannot continue to break through the strong resistance at the level of 3785, it is very likely to face resistance and retrace! From the chart, we can see that after ETH's upward movement, it continued to retrace and is now very close to the support level. Therefore, the Shepherd thinks the resistance ahead is too strong! During the day, if ETH is above the level of 3570, do not aggressively go long! There is a risk of retracement!
As for Altcoins: The altcoin rotation has already emerged, including ENA/AAVE/DOGE/ARKM/WLD/SSV/LDO/WOO/COMP, etc., all of which are continuously rising, and the momentum is not small! So friends, let's wait for the flowers to bloom!
