Hello brothers and sisters
Welcome everyone to follow tonight's live stream at 21:00 by Wen Ge
Report: The alarm from 8 AM has just been processed. Monitoring Binance's 330 coins, there were 4 alarms, a decrease compared to 41 alarms in the early morning.
First, let's talk about the market:
Currently, the market's 4-hour price is undergoing a daily level test downwards, forming a double bottom structure with the previous daily test. Completing the double bottom structure test can solidify the market's weekly structure. Currently, the daily and weekly support is effective, and the market trend is good, which is conducive to the formation of the monthly structure. Whether a wave of monthly level trend will start, next week will be a key week.
Details:
At 8 AM, we observed the structure of 330 altcoins on Binance. 81 altcoins are brewing a weekly structure and following the market structure, while most altcoins' weekly structures continue to weaken and do not follow the market.
The monthly structure is performing well, with 170 altcoins brewing a monthly structure and following the market, while some altcoins' monthly structures continue to weaken.
The market's weekly structure momentum remains good. As long as the market continues to be supported at a high level, a large number of altcoins will continue to follow the market structure after weak consolidation.
The alarm information structural analysis is as follows:
Market weekly structure: The weekly structure has appeared, and the structure remains intact.
Market monthly structure: Brewing
330 altcoins Weekly structure: 81 are brewing a weekly structure
330 altcoins Monthly structure: 170 are brewing a monthly structure
The conclusion is: Waiting for the appearance of the weekly structure
In terms of operations: Only when the weekly structure appears, the monthly structure is still brewing. Exit at the previous high position, with good stop-loss and take-profit.
Trading logic: Do not trade if the structure does not appear, buy in fully when the structure appears, and exit gradually when the structure disappears.
Longguo stock closing situation: Bearish, continue to analyze next week at the opening
Note ⚠️ All the orders issued are personal experiences. Trading has risks and entry should be cautious.
