Let’s talk about encryption, just briefly and casually.
On Monday, the section chief was bullish on $BTC ’s “big pancake,” and said that 63300-63400 and 62900 are possible rebound support zones. In fact, both of these ranges rebounded.
Starting Tuesday, he intended to short at 647-648, but it didn’t come, and instead it kept dropping to 629. On the smaller time frame, there’s a trendline overhead restricting price here. The “big pancake” can hardly make a good rebound unless it gets above 64000. A possible rebound area lower down is still around 61800.
As for $ETH , pressure-wise, focus on the 1910-1915 range. The role here is the same as the 64000 area for the big pancake—it's the dividing line between bullish and bearish. Also, the hourly downtrend line hasn’t been broken yet, so it’ll be hard to see a good rebound. The next support to watch is around 1805.
Also, the section chief’s expected turning-point window for Monday was between 8.17 and 8.20—so next week. Based on the current daily chart for the big pancake, today’s daily candle hasn’t formed a two-sided reversal into a bullish candle. Looking for even lower levels next week is still more likely.
Personal opinion, for reference only! In my view, crypto’s value-for-money is really not good anymore. If you trade and lose in US stocks, at least you can still feel okay. But this crypto trading is just not smooth at all 🤡
On Monday, the section chief was bullish on $BTC ’s “big pancake,” and said that 63300-63400 and 62900 are possible rebound support zones. In fact, both of these ranges rebounded.
Starting Tuesday, he intended to short at 647-648, but it didn’t come, and instead it kept dropping to 629. On the smaller time frame, there’s a trendline overhead restricting price here. The “big pancake” can hardly make a good rebound unless it gets above 64000. A possible rebound area lower down is still around 61800.
As for $ETH , pressure-wise, focus on the 1910-1915 range. The role here is the same as the 64000 area for the big pancake—it's the dividing line between bullish and bearish. Also, the hourly downtrend line hasn’t been broken yet, so it’ll be hard to see a good rebound. The next support to watch is around 1805.
Also, the section chief’s expected turning-point window for Monday was between 8.17 and 8.20—so next week. Based on the current daily chart for the big pancake, today’s daily candle hasn’t formed a two-sided reversal into a bullish candle. Looking for even lower levels next week is still more likely.
Personal opinion, for reference only! In my view, crypto’s value-for-money is really not good anymore. If you trade and lose in US stocks, at least you can still feel okay. But this crypto trading is just not smooth at all 🤡