#BTC If the daily closing price can effectively break through and stabilize at 66500, the price will be in the 68000-69000 range for a short-term long-short game, and there will be two situations in the later market. Return to the wide range of fluctuations in the large range again or induce longs at high levels and turn to shorts quickly. If you don't enter the market near 60000, don't chase longs at high levels.
The rebound of altcoins is stronger than that of mainstream coins. Looking at the market, ETF, capital flow, Defi and other data, the current market trend is tentative for the market after halving. The bull market expectation is still there, but short-term confidence is insufficient. Since many altcoins have returned to the original point or more than 50% in this wave of decline, their performance during this period may be relatively better.
This Defi chain data chart is very valuable and referenceable. In the figure, ①VOL changed on March 11, 2023. Check out the position and price of BTC. The arrow points to April 16/17, 2024. Check out the position and price of BTC. The only difference is that one changed at a low level and the other changed at a high level. You will come back to thank me!
Recently, Ethereum's overall trend is weaker than Bitcoin, and the price has fallen below the range of fluctuations. Defi data shows that Ethereum's TVL locked-in volume and VOL trading volume have not changed much, so they are not referenceable. The 3000 mark is currently a very critical support level. The daily level has entered a downward trend. If it breaks again, there will be no strong support level below for the time being.
Since the beginning of this year, Grayscale GBTC's Bitcoin holdings have been reduced by 50%, from 600,000 coins to 300,000 coins. The institution is really ruthless!
At present, Bitcoin can be clearly defined as a downward trend below the daily level, and the daily level is a wide range of fluctuations. The trading volume has shrunk in recent days.
60000/56000 is the recent key support level, and the upper pressure level is 67000. Given that there are still 4 days to complete the halving, the market volatility will probably intensify and be erratic.
Follow the current trend and maintain a short-term and medium-term bearish outlook. Please resolutely abandon the idea of bottom-fishing (except for short-term).
There are still 5 days before Bitcoin halving. The market fell sharply again at 3 am. After breaking below 60,000, it rebounded quickly and is currently hovering around 65,000. The trading volume has increased significantly in recent days, and the support and pressure levels have also become invalid. The market has entered a period of wide fluctuations. There will definitely be at least one big wash before and after the halving is completed. The current market is just a prelude. Manage your positions and control risks!
Although it has reached the key support level, it is not appropriate to buy the bottom, whether from the overall situation of the current market or its SEC lawsuit.
Before these problems are solved, there will definitely be a small technical rebound, but there will not be a good profit opportunity.
However, I am still optimistic about the future of UNI!
林无言
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Bearish
#UNI $UNI #Uniswap The lawsuit is going on again. The price has never recovered after falling below the key support level. Yesterday's general decline and rebound failed to pull it back. The increase brought by the release of the Uniswap protocol governance proposal on February 23 this year has been almost wiped out. Is this a bargain hunting opportunity? Keep an eye on ing
#ONT $ONT The biggest risk of chasing highs is chasing! The biggest risk of bottom fishing is copying! The biggest risk of both is resistance!
林无言
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#ONT $ONT
Some fans asked me if ONT can be chased?
Generally, I don’t chase high prices. I only enter the market at key points, also called detonation points. If you miss it, you miss it!
On April 8, ONT broke through the pressure level of the triangle convergence pattern and the median of 0.3529 with the increase in volume, and finally closed above the next day.
There are too many hot spots recently, and it’s hard to see them all. What’s more, it’s still an old bottle, so what if it’s filled with new wine?
#BNB $BNB In this round of decline, BNB is the strongest. I marked the abnormal data in the afternoon, but it is not finished yet. Numbers will not lie. Many big market trends have signs before they start!
In investment transactions, we will be confused by various information and data, which will affect our judgment. As written in The Crowd: "When individuals become part of a group, their judgment and critical ability are often weakened, and group behavior is more likely to be driven by emotions and impulses rather than rational thinking."
Yesterday afternoon, I was confused by the data of #ETH in Deflama, but now I am not confused anymore. It seems that a lot of people stepped back and added positions near 3500, which also caused the TVL level to climb to the peak level on March 13. What did you do with all your money? I didn't dare to open a short position. I trusted you too much~😂
Generally, I don’t chase high prices. I only enter the market at key points, also called detonation points. If you miss it, you miss it!
On April 8, ONT broke through the pressure level of the triangle convergence pattern and the median of 0.3529 with the increase in volume, and finally closed above the next day.
There are too many hot spots recently, and it’s hard to see them all. What’s more, it’s still an old bottle, so what if it’s filled with new wine?
林无言
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Bullish
#ONT #IOST
Domestic public chains ONT and IOST are going against the trend today 🚀🚀🚀
Is it because Hong Kong Bitcoin ETF is about to be approved?
The daily level fell back to the 5.0 median support to start the upward mode, and the volume has been shrinking in recent days. There is no obvious resistance above except the previous high of 6.3. The short-term outlook remains bullish. If the price returns to below 5.0, it will enter a volatile market again.
林无言
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Bullish
#QTUM $QTUM From the daily level, it seems that the stage adjustment has been completed, and it is possible to start the second wave of sprint. It is currently in the sequel energy, keep paying attention ing🧐
The price has reached the 1.0 integer mark for short-term adjustment. The volume has been growing steadily in recent days, but it has not yet released a huge amount. There is still room for the future.
林无言
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Bullish
#OM $OM The price has basically stabilized after falling back to 0.744, and is currently testing the 0.833 pressure level for the second time. The volume is not enough for now, so come on for a pulse! 🚀🚀🚀
#UNI $UNI #Uniswap The lawsuit is going on again. The price has never recovered after falling below the key support level. Yesterday's general decline and rebound failed to pull it back. The increase brought by the release of the Uniswap protocol governance proposal on February 23 this year has been almost wiped out. Is this a bargain hunting opportunity? Keep an eye on ing
#BTC $BTC Affected by the US March CPI data, Bitcoin fell rapidly last night and then rebounded quickly, and finally closed above $70,000. From the spot ETF data, funds showed a net inflow again yesterday, and Defi's TVL (total locked value) remained high. There are still 8 days before the BTC halving. Before the completion, the price will most likely be around $70,000 for long and short games, and the market will fluctuate.