The strength of BTC has exceeded expectations. It was originally expected to at least take a 30-minute downward segment, but it refused to retrace. The upward segment of the second central area in 30 minutes has extended all the way to 98988, just one step away from the 100,000 mark!
Looking solely at the 30-minute chart of Bitcoin, a downward retracement that is due will still come, and attention needs to be paid to the strength of this downward retracement. Currently, chasing highs is clearly an unsuitable risk-reward ratio. The portion of the position that was previously reduced should at least wait for the 30-minute downward segment to appear and observe its strength before deciding whether to replenish. If a bullish trend appears, it indicates that bullish strength remains strong, and there is hope to challenge the 100,000 mark!
As the price of Bitcoin continues to rise, the king of altcoins, ETH, also started to gain momentum last night. Around 8 PM last night, it made a significant upward move with increased volume, while other altcoins also experienced a rebound. Ethereum has been suppressed for too long, and from a larger perspective, it will eventually return to its original position.
Looking directly at the 4-hour chart, the current operation is an upward departure from the central area. After a period of consolidation, it is highly likely to break through 3442 to complete this segment. After the conclusion of the upward segment in 4 hours, there will likely be another large-scale opportunity to enter: a third buy in 4 hours, followed by a challenge to historical highs.
From the numerous transitions between bull and bear markets, every attempt to bottom out and guess the peak is equally difficult. One thing is certain: no one can buy at the lowest point, and no one can sell at the highest point. Of course, the current bull market is only at the mid-stage, with a long way to go before reaching its climax. A common situation in a bull market is selling too early, so maintaining a good mindset is very important to avoid chasing highs and cutting losses.
Whether to hold a full position and wait for a large-scale selling signal, or to maintain a certain proportion of the position for short-term trades, completely depends on individual skills and mindset. Most participants in a bear market can completely lie flat and do nothing, but in a bull market, it is completely the opposite. A bull market will ignite endless desires and greed, causing individuals to forget risks and throw them aside. In the end, a large wave of retail investors will be left stranded at the top!
The above analysis is for reference only and does not constitute any investment advice!
Friends, if you are interested in the Chande theory and want to obtain free study materials, watch public live broadcasts, participate in offline training camps, improve your trading skills, build your trading system to achieve stable profit goals, and use Chande techniques to escape peaks and bottom out in time. You can scan the code to follow the public account and privately message to obtain and add this WeChat account!
