$BTC $ETH
Morning Market Analysis
In one night, $1.027 billion was liquidated, and the market was once again bloodied...
Those who watched my analysis over the past two days should have escaped a calamity. If your spot positions are trapped, let them be; the contracts are shorted.
The short price given in the evening was 102600, and Ethereum was 3720. It’s a nearly perfect entry point. Today’s short positions should be reduced.
A spiral decline will definitely see a rebound; if you want to short the big players, you can take small positions and go long to catch the bounce. It’s best not to think about holding short positions for long, as the bull market isn’t over. Holding on until 80,000 or 90,000, and Ethereum around 3050 should be about right 😹!
Looking at today’s market, Ethereum has dropped sharply, breaking through 3400 down to 33, encountering support at the 3-day line, with a slight rebound. The bottom saw a trading volume of 100,000, which is okay, completing a rebound of $100. Prepare for the second shot! The weekly chart has started to enter a death cross, which is a bit troublesome; breaking the previous low during the day shouldn’t be a problem, and we need to complete the KDJ at the bottom. If it goes big at the bottom, then we can reverse and go long, looking for a position around 3280 to see if it works.
Bitcoin has dropped to 956, with a rebound to 97 lacking strength, indicating that another injection is needed. However, the support at 94 is very strong, and the daily MACD needs a rebound to return to the zero axis; the KDJ is almost at the bottom, so another shot would be best. Therefore, let’s see if there’s a suitable position to catch the rebound at 94. If 94 breaks, it will drop straight down to 90,000. This is the strongest support; let’s wait for another rebound and see how it goes!
