11.3 Zhenkang's Midday Thoughts
Looking back at today's market, it sharply declined from 97382 to 94391 in the early hours. It broke through the pullback prediction level given by Zhenkang yesterday. Then it touched the bottom and rebounded, during which a long position was taken. After a period of consolidation, the position was exited. Entered Bitcoin at 94648, exited at 96035. Captured a space of 1400 points on Ethereum with an entry at 3572, exited at 3645, obtaining a space of 75 points, earning fifty thousand in oil.
Currently, we can see Bitcoin oscillating between 94300 and 96300, and Ethereum oscillating between 3600 and 3670.
However, the basic structure of the market still remains favorable, based on the three major indicators.
Longs and shorts are still competing around the central point of 96000.
In such a volatile market, Zhenkang believes that one must think deeply before entering the market.
Although the overall trend is bullish, the resistance above is unclear. Is it a breakout upwards? Or a deep pullback? It's best to observe the market changes first.
