Done, was I fooled? Bitcoin’s breakout failed—was it a fake breakout? Micron and Hynix have completely collapsed. What should you do now? Come take a look.
1. So unfortunate… First, let’s talk about why it dropped. When $BTC broke out yesterday, it just happened to hit a semiconductor bloodbath. Micron fell from 1000 to the high-$80s, dragging down the US stocks as well. The great breakout momentum in the crypto market was wiped out—just like that. So the question is: will it go up again?
2. You can try! But only go long at strong support. BTC’s current strong support is around 633k and 628k. At that level, a rebound of about 1000 points is not an issue. Right now, be a bit more conservative with your moves, since the Korean stock market is basically going insane—big drops and circuit breakers happen out of nowhere. That will affect the whole capital market.
3. And $ETH is even stronger, so its support level is higher than BTC’s: around 1875 and 1830. Especially at 1830—this was the top of the previous consolidation range. Once it broke out, support and resistance swapped. Now that area turns into support for a drop. If it can get there, Shu Qin will definitely go in with another aggressive long.
4. Also, our ETH top-spotting was pretty accurate. Shu Qin said yesterday that ETH would break out, and he expected it to tap the resistance around 1950. Well, last night ETH really climbed to around 1950, and a bunch of you even flipped to short—nice work! If ETH breaks above 1950, the next resistance is at 2050. Remember these levels.
5. Besides that, semiconductors have been dropping extremely hard lately, as shown in the chart. Shu Qin is holding short positions. Previously, I told everyone to have Micron $MU 900 do a rebound toward the big resistance around 1000, then top it off and flip to a short. Now MU’s support is around 880 and 790. I’ll take profit on the way down—another big win~
1. So unfortunate… First, let’s talk about why it dropped. When $BTC broke out yesterday, it just happened to hit a semiconductor bloodbath. Micron fell from 1000 to the high-$80s, dragging down the US stocks as well. The great breakout momentum in the crypto market was wiped out—just like that. So the question is: will it go up again?
2. You can try! But only go long at strong support. BTC’s current strong support is around 633k and 628k. At that level, a rebound of about 1000 points is not an issue. Right now, be a bit more conservative with your moves, since the Korean stock market is basically going insane—big drops and circuit breakers happen out of nowhere. That will affect the whole capital market.
3. And $ETH is even stronger, so its support level is higher than BTC’s: around 1875 and 1830. Especially at 1830—this was the top of the previous consolidation range. Once it broke out, support and resistance swapped. Now that area turns into support for a drop. If it can get there, Shu Qin will definitely go in with another aggressive long.
4. Also, our ETH top-spotting was pretty accurate. Shu Qin said yesterday that ETH would break out, and he expected it to tap the resistance around 1950. Well, last night ETH really climbed to around 1950, and a bunch of you even flipped to short—nice work! If ETH breaks above 1950, the next resistance is at 2050. Remember these levels.
5. Besides that, semiconductors have been dropping extremely hard lately, as shown in the chart. Shu Qin is holding short positions. Previously, I told everyone to have Micron $MU 900 do a rebound toward the big resistance around 1000, then top it off and flip to a short. Now MU’s support is around 880 and 790. I’ll take profit on the way down—another big win~