Hello everyone, I am A Gan. Let's talk about the current market situation.
1:Last night the U.S. stock market opened lower but rose strongly, with the Nasdaq closing up nearly 1%. Tonight, the U.S. stock market will continue to open and close three hours early.
2:#BTC Bitcoin fell to a low of around 92520 last night, almost the same as the low from the previous two days, which was 92232. The overall market trend shows that the high points are getting lower, but so far, the low points have not broken down. Bitcoin currently has several pressure points, 95700, 96600, 98200, 99600, with weak support at 93600 and relatively strong support at 92230, and strong support at 90000.
Bitcoin showed a weak trend last night, continuously declining without following the market. This is a good sign. Currently, it would be best for Bitcoin to fluctuate between 92000-95000, as it had previously risen too much. Since it can't move higher, many funds may choose to transfer to other cryptocurrencies like Ethereum, SOL, and other popular mainstream public chains.
3:#ETH Ethereum did not follow Bitcoin last night, and while Bitcoin retraced, Ethereum did not drop significantly. The market is much stronger than the previous days, with a retracement near the high point of 3350. The lowest retracement was around 3260 and did not drop further, starting to slowly rebound after that, reaching a maximum of 3466. The low points for Ethereum are currently rising slowly, 3220, 3260, 3300, with resistance around 3400 and 3450. To continue climbing, it needs to stabilize above 3450 for a chance to push towards the key level of 3550. Currently, if Ethereum can stabilize at 3300 during the retracement, the upward trend will continue, and short-term traders should focus on buying low during the retracement.
Last night in the live broadcast, I told everyone to buy at 3300 and to take profit when it couldn’t get above 3450, resulting in a successful profit of 150 points.
4:#SOL Last night it didn't follow Bitcoin, it rebounded after a low test around 180.8, slowly rising to about 193.5, a rebound of around 13 dollars. The low points for SOL are also gradually rising, 175, 180, these two relatively strong support points, minor resistance at 194, strong resistance at 200. For SOL to explode, it must break above 200 to have more room for growth.
Last night in the live broadcast, I told everyone to buy near 181.8, and then when it rose to around 193, I advised to take half of the profits. The remaining can be held until it can't break above 200, then sell. So far, it hasn't gone up, but at least the position is still profitable.
The overall trend of the market is still mainly fluctuating without a clear direction. Bitcoin, Ethereum, SOL, etc. are mainly trading within a range. A few days ago, I already mentioned that those without positions should currently hold about 50% of their spot positions. Wait for another wave of retracement to buy the remaining 50% at the bottom and just wait. As for when to buy at the bottom, if you can't understand the market yourself, you can follow my community's notifications when it's time to buy at the bottom.
A Gan's community exclusive chatroom is accessible by clicking the yellow text: Binance Ace Exclusive Group, A Gan Talks Coins Click to Join Chat Group. The chatroom will periodically recommend current spot coins and contract strategies.