Today's market analysis
Yesterday, the US stock market opened and there were small up and down spikes. As of now, BTC is quoted at around 59,200. The weekend market fluctuated slightly. Without the stimulation of news, it basically fluctuated around the 59,500-58,500 range, so too much analysis seems unnecessary. Let's briefly talk about today's trading ideas. For the current market, the trend has not changed, so my idea is to short at highs. The pressure level of 59,800 has not been effectively broken after two attempts, so this position can be used as a reference for opening a position, with a small stop loss of 60,200. The lower 58,500 will also be a small support today, so you can choose to close the position when it reaches this area. The trading idea is relatively simple. There will be no big fluctuations without sudden news. For me, I generally don't trade on weekends, but choose to return to life and go out with my family and friends to calm down my mood in recent times and manage my mentality in advance for next week's trading.
Intraday pressure and support levels
BTC pressure level 59500 support level 58500
ETH pressure level 2640 support level 2560
Spot sector recommendation and analysis
Although the weekend market of Bitcoin will not fluctuate too much, the altcoin market is different. There are often one or two tokens with fast growth on weekends. These tokens are usually used to pave the way for the market next week. They are either raised again on Monday to sell, or stimulate trading volume to gain more heat for market making in recent times. If you have time, you can pay more attention to these tokens. The income does not need to be too much. 5-10% is enough. Being too greedy is easy to be buried. At the same time, you also need to bring expected stop losses. For example, rare and syn on today's gain list are very obvious signs of market makers entering the market. The sudden increase in volume has attracted more people in the market to pay attention to the tokens, and then stimulated trading volume by pulling up or inserting needles. These are the most basic trading techniques. It will not end so quickly in the short term. If there is a chance of a pullback, you can ambush with a small position, but you must strictly set a stop loss. Rare needs to wait for this needle to end and see the movement of the next needle before proceeding to the next transaction. The current upward needle is also likely to be a phenomenon of large-scale shipments, because this coin has been pulled up for a few days, not just starting to increase in volume.
