LYY-Noname
20 Following
45 Followers
3 Liked
0 Shared
See original
I took a quick look at Ethereum
Actually, it’s pretty much the same as Bitcoin, with support while the downtrend hasn’t changed
The liquidity is poor, and currently, I can't find suitable trading opportunities
This position will show direction next week
I suggest paying close attention to whether altcoins show signs of a breakout to decide if you are bullish or bearish
Actually, it’s pretty much the same as Bitcoin, with support while the downtrend hasn’t changed
The liquidity is poor, and currently, I can't find suitable trading opportunities
This position will show direction next week
I suggest paying close attention to whether altcoins show signs of a breakout to decide if you are bullish or bearish
See original
hello everyone, let's analyze the current market of Bitcoin briefly.
From a daily perspective, it is quite clear that Bitcoin has not yet broken through the resistance of the descending trend line, which means that the bullish trend at this position has not been established.
If we consider the period from November 20th to now as a fluctuation range, it is still not clear whether this position is a continuation equilibrium or a reversal equilibrium.
The simplest method is to wait for a confirming candlestick to appear, with the upper level around 102,000 and the lower level around 78,000.
Currently, both the 4-hour and 1-hour charts still show stronger bearish momentum, and market sentiment has not formed a reversal.
My personal thought is that this position needs to test again, or what is referred to as the ultimate shakeout, before breaking out and forming a trend reversal.
So in the short term, I am looking at a bearish outlook, but let me remind you that we have already reached a critical position. The more you speak, the more rational the short position becomes; place your bets, everyone!
From a daily perspective, it is quite clear that Bitcoin has not yet broken through the resistance of the descending trend line, which means that the bullish trend at this position has not been established.
If we consider the period from November 20th to now as a fluctuation range, it is still not clear whether this position is a continuation equilibrium or a reversal equilibrium.
The simplest method is to wait for a confirming candlestick to appear, with the upper level around 102,000 and the lower level around 78,000.
Currently, both the 4-hour and 1-hour charts still show stronger bearish momentum, and market sentiment has not formed a reversal.
My personal thought is that this position needs to test again, or what is referred to as the ultimate shakeout, before breaking out and forming a trend reversal.
So in the short term, I am looking at a bearish outlook, but let me remind you that we have already reached a critical position. The more you speak, the more rational the short position becomes; place your bets, everyone!
Login to explore more contents