Neither rising nor falling is scary, what you should pay attention to is what to do at what position
2024/5/23 evening sharing:
Since 5/16, I have reminded the community to pay attention to the market changes. The altcoin may explode. Ambush eth and other altcoins for long-term long orders/spots. Do not short in the short term. Later on 5/21, I also reminded you to pay attention to the stop-profit in the selling zone. At present, eth/pepe has completely reached the prompt selling zone (ETH: 3939-previous high; PEPE: 126-153). Friends who have been following me for a long time and saw the post on 5/21 hope that you have locked profits in long orders. There is no structure in short orders, so it doesn’t matter if you don’t enter the market. The behavior of touching the top against the trend itself is high-risk. It is the key to do a good job in every safe order and protect profits and maintain a high winning rate (if you need to verify whether it is a hindsight, you can open the homepage to see my previous sharing). So far, eth has locked profits of more than 30 points, and altcoins have profits ranging from 15-20 points. I won't talk about BTC, as its structure is not as good as ETH/copycat. Although the bulls continue, they are not comfortable. I believe you have seen it in the past two days. It is not easy to do.
1. Analysis of ETH: ETH has now come to a very important selling area and has fallen slightly. The bullish structure of the daily line is almost over. There are two situations in the future that are our trading opportunities: 1. Without breaking the highest point, a 1/4 hour short structure is formed near the selling area. This is an opportunity to short on the right side (definitely on the right side); 2. After breaking through the high point, there should be no shorting in the short term, just wait for the callback to some positions that need attention and wait for longs. In other cases, it is necessary to wait for the structure to be formed after the limit down or limit up to make further judgments and choices. Trading opportunities: In case of situation 1, short on the right side, stop loss according to the structure band, and target according to the structure band. The specific position will be reminded in a message. In case of situation 2, the retracement positions that need to be paid attention to include important support and resistance exchange positions/fibo0.382-0.618 range left light positions and right increased positions. Finally, friends who have long orders at the bottom or have taken spot to lock in profits continue to hold your positions, and wait for trading opportunities when the price falls back to increase positions or stop losses when the price falls back to the original price.
2. Analysis of other popular altcoins: Except for some meme coins (pepe/people, etc.) that have completed the long structure, others have already gone out of the daily long structure and are expected to continue the long structure. The expectation of altcoin outbreak remains unchanged, unless the subsequent major structure changes, and a reminder will be issued in time.Trading opportunities: No short selling is considered in the short term (including several meme coins at the target position). Friends who trade empty-handed during the day can look for small-level long structures to enter the market after each decline; bottom spot entry includes friends who buy spot when the daily long structure appears and continue to hold and wait for the target position to stop profit. For spot purchases, please see the post on 5/16. Because there are many alts, I will not analyze them separately. If you have a promising alt that needs me to help you with the structure analysis, you can leave a message and I will give you a detailed explanation when you see it.
3. Finally, it should be emphasized that the current daily short structure of BTC/ETH is completely destroyed, and the daily/monthly levels are all long. Trend traders should focus on long positions. Every decline is a potential entry opportunity. Manage your position well. If it falls to a certain position, you must dare to enter the market/add positions. If it rises to the selling zone, you must learn to stop profit and lock profits. If my sharing is helpful to you, remember to follow me. I will update the market analysis and trading opportunities according to the market from time to time. I will not be a hindsight or a big shot, but only the trading logic.
