Last night, Bitcoin broke through a wave of triangle convergence, leading the market to surge upward. As a result, the U.S. stock market pulled back, bringing the market down, but it is still consolidating at a high level and has not fallen sharply. It may be sideways during the day, waiting for the U.S. stock market in the evening.
There are two trends. $BTC The strength is judged by the upper edge of the triangle and the trend dotted line. If it can stay above, it is strong. If it falls below, it is weak.
Operational suggestions: I subjectively believe that the large-scale trend is not over and is still in the process of consolidation. It is expected to follow the short-term direction of the U.S. stock market in the evening.
Maintain holding of long-term positions.
No covering will be done for positions above half position.
Those who are short can do some long trading, with a stop loss of $500 if the price falls below the stop loss.
$ETH Weaker than BTC, the exchange rate pair has also fallen below the support, so it is not a good target for long positions for the time being. If you have it, hold it, if you don’t have it, don’t participate.
Watch to see if this trend line breaks.
OP, after forming a head and shoulders bottom, it is currently trying to break through the horizontal pressure, so you can pay attention to it. This coin is much stronger than ARB.
AVAX, the leading chain of Inscription, has done a head and shoulders rise relay, which is a strong performance. As long as Inscription does not retreat, AVAX is expected to remain strong. At present, the short-term has also reached the pressure of the previous high, and it is not easy to chase the rise.
SOL is also the leading chain of this wave. The rising pressure line has been broken, and it is impossible to analyze it technically. But if it falls back to the dotted line with the market crash one day, you can get on board.
LINK, channel + wedge, if it falls back to around 13.7, you can get on board. The stop loss is not large.
MATIC, M top, trend line has been broken. Support is in the horizontal area.
ORDI, the leader of inscriptions. Currently, it seems to be a large-scale triangle consolidation. It is currently in the middle position, neither going up nor down, and it is not easy to participate.
BIGTIME, the hot spot is not above, it is weak, it is better not to participate in the long position.
SATS, the leader of Inscription, can be temporarily considered to have ended the adjustment. But if it is brought down by the market and steps back on the dotted line, it is still a good opportunity to get on board.
RATS, the mouse is still strong, and it has made a direct breakthrough in the upward relay. If it falls back to the horizontal area, it is still a good opportunity to get on the train.
Judging from the crypto market alone, market sentiment is still high and has not turned from strong to weak. However, the US stock market fell sharply last night. I don’t know whether it has reached its peak. It is impossible to judge by the trend of one day. We need to wait and see patiently.
Those in the car can only hold their positions and wait, even if the returns are reduced. But I think the market is relatively safe before the ETF is approved. Maybe some funds will start to take profits in advance a few days before the approval?
Inscriptions are still strong. Pay attention to the Inscription projects on the exchange. The liquidity of Inscriptions was very poor in the early days, so there could be an exaggerated increase. Not many people will benefit from this increase, similar to the process of BTC rising from 1 US dollar to 100 US dollars.
Therefore, as long as the popularity of inscriptions has not subsided, we should not be afraid of high prices when participating, and focus on the momentum rather than the price.
But once you find that the inscription is receding, don't have any faith. In the end, even if this track is still there, more than 95% of the projects will definitely return to zero. Similar to NFT and the zoo in 21 years.
