Currently, the market is experiencing a phenomenon of excessive longs, where even after a decline, people still believe they should go long. This is a common mindset!
Only when they wake up from their dreams do they realize that the market is no longer in a bull run, and they may not even notice when it reverses!
Because when the market reverses, no one tells you, and there are no particularly significant signals in the market. It completely relies on your unique experience, especially when the market fluctuates rapidly. Market sentiment dominates, and there are no technical references!
Next, we will continue to maintain a bearish stance!
Short at the 97500 level, looking down to 94000/92000
The global average price of Bitcoin is $19,625.84, with a 24-hour increase of 8.16%. The price is around $96,700, reaching a new daily high. The morning trend analysis is as follows:
Trend Judgment: The overall trend is upward, but near the new high, short-term bearish forces are likely to gather, posing higher risks.
Short on Bitcoin at 96,700, looking down to 94,000.
Short on Ethereum at 3,670, looking down to 3,500,944,730,333,417,101,629,892,447,000,167,995,557,098,270,297,266,155,320,40
The current price is the same. If you lose money in the previous trade, you are out. Throw away all distracting thoughts and look at one direction to go short.
Zhuo Chen’s latest ideas are available at current prices
The current price of the big cake is 98,700, and the price is 99,300/95,000.
In the long term, bears still have some pressure. The main bear pressure line at the monthly level is 3680,
at which point the price struggles to maintain near the bull support line, the situation is critical.
In the short term, Ethereum is oscillating in the range of 3850-3700, with moving averages showing a bearish arrangement, and the Bollinger Bands showing signs of opening, the bearish trend continues,
Personally, I suggest going short at the 3620 line, looking down to 3400
The pancake has seen a market with fluctuations, dropping to 91,000 before rebounding to a new high and then pulling back, a typical scenario of both bulls and bears eating into each other. This kind of market pattern has been damaged at once, but when there is room, one can reduce positions and re-enter as the market changes!
No matter how it plays out, if you want to catch a big space and a big trend, you have to endure what others cannot bear. Next, continue to focus on shorts, especially Ethereum!
Currently, the short position is at the 96,900 line, with a small trend target looking at 94,000.
Zhuo Chen's latest thoughts at 11.29 in the early morning are as follows:
At present, there is a phenomenon of long positions in the market. When the market falls, people think that they should buy more. This is the general thinking of the public! When you wake up from the dream, you will know that the market is no longer a bull market, and you don't even know it after the reversal!
Because no one will tell you when the market reverses, and there is no particularly big signal in the market, you rely entirely on your own unique experience, especially when the market rises and falls rapidly, market sentiment dominates, and there is no technical reference!
Next, continue to maintain the main short position!