BTC surged near 70,000 points today, the moment of battle has arrived, the charge has sounded, bullets are chambered, and bayonets are drawn. Both bulls and bears are about to enter the final clash! In just 3 days, the market is likely to run red with blood.
From the daily chart perspective, there was significant capital entering the market yesterday, breaking through to 70,000 with volume, breaking the consolidation range. The volume performance met expectations, with large funds from the main players going long, forming a strong bullish candlestick. The support level below is at 69,000, and the resistance level above is at 72,000. The MACD shows a shape of fueling in the air, and prices are expected to continue climbing, but the risks are also gradually increasing, with an expected upward cycle of 3-5 days that requires special attention.
On the hourly chart level, a divergence upward is expected to form. Yesterday's volume increase aligns with normal trends, and after a brief pullback, it may continue to rise. Although the indicator divergence will weaken the upward momentum, the retail investors’ eagerness to chase higher prices is growing stronger. This craziness is exactly what the main players want to see: pushing up to attract more buyers, and the crazier it gets, the more vigilance is needed.
The long-short ratio has reached its extreme at 0.59. If BTC continues to rise, the risk of a sharp drop will also increase, and the final plunge could be quite severe. The only suggestion at this point is: consider shorting BTC. With sufficient margin, significant gains are expected in 3-5 days.
For altcoins, this is truly the final sprint phase. Friends entering at the bottom must gradually reduce their positions. Currently, coins experiencing explosive growth at high levels can be shorted with light positions; coins like SOL, DOGE, and TRX are good choices. If other altcoins surge in the next two days, consider gradually reducing positions or lightly shorting.
Many believe that if Trump is elected in the U.S. elections, the crypto market will continue to soar. I can assert that this major correction will inevitably end before the presidential election. Those apparent favorable factors are exactly what the main players want everyone to see. Don’t be deceived; remain calm and do not blindly chase prices or stubbornly hold onto positions. The main players are waiting for the market to lower its guard before delivering the final blow.
Starting today, remember one thing: raise positions to reduce, reduce, and then short, calmly strategize.