#ETH BTC#
📉 The market decline exceeds expectations.
BTC has lost the critical position at 96000.
Tomorrow, pay attention to whether the daily close is above 96000.
Today's market has fallen sharply
It has already exceeded my expected range
Although BTC has not effectively broken below the 96000 mark
But the risk of breaking at the edge of the daily chart is already looming.
We need to wait for tomorrow's close to confirm this key position
If it really breaks
The support level below may look towards the 88000-85000 area that we have always emphasized.
📈 Daily overbought for a month
The 4-hour short-term is oversold; today has already rebounded to the 98000 I told you.
Short and reduce positions.
Looking back at the past month
BTC has been rising under the pressure of daily overbought.
And today, the market has already reached the oversold area on the 4-hour chart.
And has effectively continued to be suppressed and drop under the pressure at 98300.
Unfortunately, it was unable to effectively break through this key position tonight.
The market is still in an oversold state on the 4-hour chart
It is necessary to short during a rebound.
ETH's mid-term bullish structure is urgent
3650 becomes the key position
Meanwhile, ETH's mid-term bullish structure has also been broken.
The position at 3650 has become the focus of our attention
Only if tomorrow's daily close returns here can we relieve the risk of continued decline.
💔 The altcoin market is collapsing, and the speed of the decline is astonishing.
The entire altcoin market has also suffered severe damage.
The speed of decline even exceeded that of August 5. The situation of liquidation has also set a historical high. This drop occurred at 4 AM, and it taught us a lesson that the crypto world operates 24 hours a day. I was already asleep last night, and when I woke up in the early morning to check the charts, I couldn’t make a timely short-term assessment. I also couldn’t accurately know the timing of the drop; I only took profits on small coins before this and switched to SOL ETH. However, after ETH reached 4000, I emphasized that this is a hard resistance, but I did not reduce my ETH spot this time, and now the drop is also beyond expectations.
📝 In a market with 24-hour trading, planning ahead is essential❗️
The 24-hour continuous trading in the crypto world means I cannot always be online to assess the market and make operations. Therefore, it is especially important to have a plan in advance. If you bought supermarket positions, you may be flustered when faced with sudden situations.
Therefore, it is essential to formulate a response strategy to cope with market changes.
📊 From a data perspective, looking at the market, some coins
From a data perspective, some coins in the market, such as SOL, INJ, APT, etc., have already shown data buy signals. I think it is still wise to wait for BTC to show structural confirmation before taking action.
Retail investors are still in fear at this moment
However, as long as your cost has an advantage, most coins are currently in a drop similar to August 5. Heavy positions must make concessions, leaving room for more advantageous coins.
💡 Reduce positions, stabilizing coins in hand.
At this stage, reducing positions is a wise move.
It is recommended to convert 50% of the funds to stablecoins.
To cope with possible market fluctuations. At the same time, pay attention to those strong coins that are still at the weekly trend support position; they may stand out in the market rebound.
🚀 The crypto world is ever-changing, staying calm is key!
Finally, I remind everyone that the recent fluctuations are significant.
It is crucial to stay calm and rational. Do not blindly follow the crowd or panic sell; make decisions based on your own risk tolerance and investment plan. Let's look forward to the turning signals in the market ahead.