Trapped? Then what: Watching for BTC’s second buy and ETH’s range breakdown | Morning Analysis
Morning analysis for October 16. The theme in one word: trapped. Hua Jie breaks down the first step after getting trapped in a cycle: check the timeframe—not call out trades.
1. BTC: Chopping around 82,300, after sliding from 87,000 on the daily chart. Overall, the pullback is one daily-chart leg; the 30-minute price action is converging into a triangle, so zoom down to the 5-minute chart for trading. Only at a lower timeframe do you get actionable signals.
2. ETH: 2,442, noticeably weaker than BTC. It weakened after breaking below the 30-minute range. With the range unable to hold, any rebound is just a structural repair.
3. SEI: Volume is expanding on the monthly chart, with a potential second buy setup on the daily chart.
The key approach: determine the timeframe first, then look for structure, and finally wait for a signal. Reverse the order, and the more you average down, the more trapped you get.
Crypto market volatility and liquidity can change quickly, and structural signals may become invalid fast. For learning and discussion only; this is not investment advice.
#缠论 #比特币 #TechnicalAnalysis
What timeframe are you trapped on right now?
Morning analysis for October 16. The theme in one word: trapped. Hua Jie breaks down the first step after getting trapped in a cycle: check the timeframe—not call out trades.
1. BTC: Chopping around 82,300, after sliding from 87,000 on the daily chart. Overall, the pullback is one daily-chart leg; the 30-minute price action is converging into a triangle, so zoom down to the 5-minute chart for trading. Only at a lower timeframe do you get actionable signals.
2. ETH: 2,442, noticeably weaker than BTC. It weakened after breaking below the 30-minute range. With the range unable to hold, any rebound is just a structural repair.
3. SEI: Volume is expanding on the monthly chart, with a potential second buy setup on the daily chart.
The key approach: determine the timeframe first, then look for structure, and finally wait for a signal. Reverse the order, and the more you average down, the more trapped you get.
Crypto market volatility and liquidity can change quickly, and structural signals may become invalid fast. For learning and discussion only; this is not investment advice.
#缠论 #比特币 #TechnicalAnalysis
What timeframe are you trapped on right now?