2024/08/21 Today's Viewpoints Abridged Version
Hello everyone, I got up late again... I don't think I've ever gotten up early. I chatted in the group last night until 4 am... Hahaha, I got up late again...
I'd better be thick-skinned and ask for a vote. I need friends to stick to the 29th... Thank you very much...
Well, let's get back to the topic. Let's summarize today's market
From the day before yesterday to today, it was actually a period of shock under a sideways market, and there was no clear long or short direction. Therefore, whether to be bullish or bearish now is a coin toss decision, because the market has not given you this direction, and the key position has not been broken/broken. How can we confirm the direction?
Here I will teach you the simplest way to judge the trend. The bullish trend will rise three times and retreat two, while the bearish trend is just the opposite, rising two times and retreating three. A simple example is that it rises from 600 to 620, then falls back to 600 to stop falling, and then rises again to above 620. When this pattern is formed, it is a signal of turning to a bullish trend. Similarly, if it falls from 610 to 590 to stop falling, and the rebound does not return to 600, and falls below 590 again. Then this is a signal of turning to a bearish trend.
This is a very simple logic, but it is often very effective. It can help you confirm true and false breakthroughs/breaks, and help you confirm the reversal of the trend halfway up the mountain.
If the top falls back to confirm the callback, then this method can also be used. It doesn’t matter how much it falls, what matters is whether it can be pulled back to the previous key position. As long as it is pulled up, the bullish trend is still not over.
In the process of confirmation, in order to avoid being lured into longs and shorts and being caught by the mouth of the fish, friends, you need more patience.
Now, except for $BNB , the other three of the four giants are in a sideways state, and the support/resistance position is obvious. Because it is sideways, it is completely impossible to have a pattern. It is recommended that friends who must trade at this time should refer to the 1h level chart. Because of the excessive increase in BNB mining, it is not recommended to enter long orders at this time. After the event, it may fall sideways, but if the big cake falls back, it is likely to make up for the fall.
I wish you all a happy trading today!
