Yesterday, BTC came to the top of the large-scale downward channel and the gap of 60,500 has been filled.
Combined with the current market situation, there is huge room for decline.
Looking at the Fibonacci retracement line daily level, we can see that the position of 618 has indeed stepped back near 60500. Combined with the MA moving average, we can see that the average price of most spots is
Around this area, the current price is in the middle track of the weekly downward channel. I think it is difficult to continue to rise.
If you want to have a new stretch, you must call back to fill it. So you can also do a
The layout of short orders;
60116-59800 open short
Take profit level: 58000
Stop loss; 61138
(Hourly level play)
Then wait for the opportunity to enter the market again
So what about eth?
The 4-hour level formed an upward channel and was brought by Bitcoin to the position of 2463 above the hourly level.
Right above the middle track of a downward trend, the idea is relatively simple;
Around 2420~2440 is an ideal short position layout scenario
The short-term take-profit position is;
Take profit level: 2372
Stop loss: 2468
(Hourly level play)
