It’s time to rest. Before I take a break, let me update you on my view of the market. Before tonight’s move, the long position I opened had the logic that before the rate hike, Bitcoin would get lured up and then “V” before the hike, and during the hike it would waterfall. In the end, gold V-ed, crude oil also dropped, but Bitcoin just didn’t budge—it was stubbornly weak. Even gold moved within my logic.
Do you remember last time I told you in the livestream that the longs I called at 4290 in the livestream room would also play out? I said there would be another V before the rate hike. Tonight, before the rate hike, the high reached 4370. Then, one hour before the rate hike, I opened a short on gold. After the rate hike, gold also waterfall as expected.
Back then in the livestream, I told you that gold’s upward channel support is around 4230. Just now, it directly dropped and reached the target. This “big pancake” (BTC) refused to break the new low and pulled back up several times, so the short was basically out…
For Bitcoin at this level, it can go either way. The bullish logic is that since we came up to 82k, the market has been drifting lower for more than ten days. 75,500 is the parallel support level for the first pullback in this up leg. If price consolidates around here, it could rise. The bearish logic is that the nearby moving averages below provide strong support around 73,800. If it keeps ranging at 76,000 for too long, short-term long orders will surge, making the market weaker and very possibly dropping to around 74,000…
For Ethereum, the technical support is 2280. In the short term, the parallel support is still the 2350 level mentioned earlier. It hasn’t broken yet. As long as it doesn’t break 2350, it’s still a 2350–2580 range. If it breaks, then look at 2280. Ultimate support is 2180—2180 is the support of the larger-scale rising triangle consolidation. In the livestream that day, I also talked about this level. So here, it comes down to whether 2350 breaks or not…
I think this is it: 2620 got poked (by wicks) twice. Those two pokes flushed out many people who were short. After the pullback, it’s not so easy for it to go up in the short term. Breaking through 2350 is just a matter of time. The long entry zone is the range 2280–2180…
Good luck to everyone~
Do you remember last time I told you in the livestream that the longs I called at 4290 in the livestream room would also play out? I said there would be another V before the rate hike. Tonight, before the rate hike, the high reached 4370. Then, one hour before the rate hike, I opened a short on gold. After the rate hike, gold also waterfall as expected.
Back then in the livestream, I told you that gold’s upward channel support is around 4230. Just now, it directly dropped and reached the target. This “big pancake” (BTC) refused to break the new low and pulled back up several times, so the short was basically out…
For Bitcoin at this level, it can go either way. The bullish logic is that since we came up to 82k, the market has been drifting lower for more than ten days. 75,500 is the parallel support level for the first pullback in this up leg. If price consolidates around here, it could rise. The bearish logic is that the nearby moving averages below provide strong support around 73,800. If it keeps ranging at 76,000 for too long, short-term long orders will surge, making the market weaker and very possibly dropping to around 74,000…
For Ethereum, the technical support is 2280. In the short term, the parallel support is still the 2350 level mentioned earlier. It hasn’t broken yet. As long as it doesn’t break 2350, it’s still a 2350–2580 range. If it breaks, then look at 2280. Ultimate support is 2180—2180 is the support of the larger-scale rising triangle consolidation. In the livestream that day, I also talked about this level. So here, it comes down to whether 2350 breaks or not…
I think this is it: 2620 got poked (by wicks) twice. Those two pokes flushed out many people who were short. After the pullback, it’s not so easy for it to go up in the short term. Breaking through 2350 is just a matter of time. The long entry zone is the range 2280–2180…
Good luck to everyone~
