Good morning everyone! Today's morning report + review is here.
First, let's review. A review is boasting about profits and crying over losses. Of course, these past few days have been all about boasting. Not counting the positions shorted at the peak. Yesterday, Bitcoin made a profit of 2000+ and Ethereum made a profit of 130+. Ethereum dropped about 5%, and Bitcoin about 3%. We got it right. Now, let's get to the main topic. For those who haven't followed yet, please help by clicking to follow. I share mainstream updates every day, free of charge.
Bitcoin's current resistance position is around 68000, with a small resistance at that price. If it breaks through 68488, then 69000, 69500, and 70000. The support below is at 67500, 66800, 66000, and 65000, which is a short-term golden bottom. I mentioned 66800 yesterday; it only dipped to this area early this morning and didn't break further.
For Ethereum, the upper resistance position is around 2400 with a small pressure at that price. Then 2433, 2465, 2480, and near 2500. The support below is at 2380, 2350, 2325, and around 2300. A couple of days ago, I said Bitcoin at 68k corresponds to Ethereum at 2400, and it still seems about right. If Bitcoin retraces to around 65k, Ethereum will drop to about 2000. This is definitely a buying position; whether it continues to rise or not, it’s a perfect position. Buy more if it goes lower.
Today's thought summary is still looking for high short positions. The Nasdaq's pullback last night was not much, and there's still room below. It doesn't matter who becomes the president in the U.S.; those seeking stability will definitely not trade. There will be significant volatility this week, so for stability, just watch.
Now, let’s talk about today’s entry positions. For Bitcoin, short positions are at 68488-68800, and consider a stop loss at 69500-70000. The potential loss could be significant, but the target profit is also quite good. Judging by the risk-reward ratio, it's definitely not favorable. Profit reference is at the support position. For Ethereum, entry position is at 2435-2450. Set the stop loss at a level you're comfortable with, a bit above the resistance position, for example, 2480, then set it at 2485. For 2500, set it at 2505. Profit reference is at the support position. Looking at the larger picture, I still haven't seen a bottom. After this week’s touch, will there be a big surge next week? Let’s wait and see if there’s an opportunity. If you have any questions, just leave a message.