Morning Review: Bitcoin and ETH just hit the key support level last night and quickly rebounded! The effective key level was not broken!
Bitcoin did not break below the key level of 91000 during yesterday's rapid decline. This level has been mentioned by the shepherd many times in previous content. However, the reason we did not aggressively enter long positions at the support level during yesterday's market was that when the retail crowd is in mass panic, it can cause a stampede, making it an unsuitable time for entry! Once a stampede forms a new breakdown, the risk will far outweigh the rewards!
Today's Bitcoin: First, the daily and 4H charts of Bitcoin have formed a bullish trend. Currently, the 4H is operating near the MA200 resistance level. The short-term resistance above is at 98111 points; if it stands above MA200, it is expected to return above 100,000! This large V rebound of Bitcoin has not actually reached the intensity mentioned by the shepherd; from the peak to the lowest point, it only dropped by 17%. I remember mentioning in previous content that for Bitcoin to start the third phase of the bull market and reach the peak, it must retract at least 20%-30%. So, a current retraction close to 20% can also be considered a short-term good news! Nearly 90% of the bulls and leverage have been cleared! In previous content, the shepherd warned that Bitcoin could break upward falsely; if it fails three times, a significant retraction might occur. Although the current retraction is not strong enough, the market trend is indeed following the shepherd's analysis!
As early as December 10, the shepherd made the last warning and emphasized the importance! In the article, he used the phrase 'crucial' to remind everyone! Therefore, during this retraction, the shepherd suffered almost no loss because two days ago, when the market was down, he made a trade with ETH during the day, capturing about 1x profit, and lost one position in the evening, which offset each other, resulting in almost no loss during this large retraction! The judgment formed by combining technical analysis with information and data is not something ordinary retail investors can understand!
Many people have sent messages to the shepherd saying that the content I mentioned is too profound and hard to understand, leaving them confused. Indeed, specialized content is not something everyone can comprehend, but you must understand one principle: there are no people in this world who cannot learn; there are only those who cannot teach!
Today's ETH: ETH is still very weak. Yesterday, the shepherd pointed out a key position, and yesterday's low was at this key position, but there was no entry at that time! Currently, ETH has broken down in both small and large cycles and is above 0.382. If it can break above the MA200 resistance of 3632 in the short term, we can consider the market stabilizing! We have already entered at 12:03 today! Waiting patiently for the bloom!
