Hello brothers and sisters
Welcome everyone to follow tonight's live stream at 21:00 by Brother Wen
Report: The alarm at 8 AM has just been dealt with, monitoring Binance's 330 coins, with 4 alarms, a decrease compared to the 41 alarms in the early morning.
First, let's talk about the market:
Currently, the market's 4-hour price is undergoing a daily level test downwards, forming a double bottom structure compared to the previous daily test. Once the double bottom structure test is completed, it can solidify the market's weekly structure. At present, the daily and weekly support is effective, and the market trend is good, which is beneficial for the formation of the monthly structure. Whether a monthly level trend will start will be a key week next week.
Details:
At 8 AM, observing the structure of the 330 altcoins on Binance, 81 altcoins are brewing a weekly structure and following the market structure, while most altcoins' weekly structures continue to weaken and do not follow the market.
The monthly structure is performing well, with 170 altcoins brewing a monthly structure and following the market, while some altcoins' monthly structures continue to weaken.
The market's weekly structure momentum remains good; as long as the market continues to support at high levels, many weak altcoins will continue to follow the market structure after consolidation.
Alarm information structural analysis is as follows:
Market weekly structure: Weekly structure has appeared, and the structure remains intact
Market monthly structure: Brewing
330 altcoins Weekly structure: 81 are brewing a weekly structure
330 altcoins Monthly structure: 170 are brewing a monthly structure
The conclusion is: wait for the weekly structure to appear
In terms of operations: only when the weekly structure appears, the monthly structure is still brewing, exit at previous high positions, and set good profit-taking and stop-loss.
Trading logic: do not trade if the structure does not appear, buy in full when the structure appears, and exit gradually when the structure disappears.
Dragon Country stock closing situation: bearish, continue analysis at next week's opening
Note ⚠️ All issued orders are personal experiences, trading has risks, and entry should be cautious.