Before the range is broken, there is nothing much to analyze. Bitcoin retraced to the 100K support area, go long directly, and near the 107K resistance level, go short directly.
The entry point given publicly, Bitcoin saw a drop from 105800 to 103000, simply a 3000-point move.
For a more conservative approach, you can reduce your position and move the stop loss up to the entry average price, while keeping the remaining position to continue looking down to 100500.
Bitcoin is mainly short near its new high. Even if it hits a new high in the future, it will be difficult to break through and start a new round of rise. It is more aggressive to go short at the current price of 105,800. 107,000 is the first line of short, stop loss at 107,500, look down to 103,000, and look at 100,500 after breaking through.
The current price of the currency is close to the middle track pressure level. The current price of Bitcoin is 103900. The stop loss is 104500, and the downward trend is 102500.
After Bitcoin reached a new all-time high and then retraced, this was expected, but I do not believe it will quickly drop below the high range and enter a bear market. The likelihood of a sideways movement in the future market is high.
There is still a possibility of reaching a new high, but I maintain my previous view that even if a new high is reached, it will be difficult to initiate a new upward trend.
Personally, the market still leans towards bullishness. The two pullbacks to the 100,000 level have both resulted in effective rebounds, giving a sense of a double bottom.
For those more aggressive, entering around 101,000 could be an option to test the waters, while a more conservative approach would be to wait until 100,100 to participate. Initially, we look at 103,000 above, and after a breakout, we target 104,500.
Talk about the short position at 109000, which has already been reduced at 106000. Even if it rises strongly afterwards, it will at most give back some profit.
103000 is a minor support level. If it drops smoothly to here, after exiting, one can consider going long again, depending on the strength of the breakdown.
Strong support is at 100000. It has already been briefly broken this morning, but the support is still there. If it drops to this level, one can take a stop loss and try for a long position.
The current market sentiment is extremely exuberant, and everyone is waiting for a breakout at the 110,000 level. Excessive FOMO (Fear of Missing Out) can lead to a price correction.
After this surge, the chip structure will be looser, so it is essential to manage risk carefully. After the frenzy, there will definitely be a mess left behind.
Short around 109,000, with a stop loss at 110,000, targeting 103,000.
From the current form of Ethereum, it is quite evident that it is under pressure at the 3500 line and has fallen back. In the short term, it has touched the key position three times, each time ending with a decline.
Today, pay attention to the sustainability of the decline. Even after the pullback, the bullish outlook remains unchanged. The support level to watch below is around 3100, with a low buy and expect a rebound.
Buy in the range of 3130-3150, and gradually exit at 3450, 3650, and 4000.