牛 returns fast—everyone！！！
Again testing the previous resistance; a breakout means acceleration.
To the brothers who don’t have orders in hand, wait for the pump, then enter short.
7.1 Market analysis
$BTC BTC
The flag pattern has broken down; an internal M-top has formed. It has broken through the 59078 support and made a new low. The previous long consolidation range has been completely invalidated. Now 59078 has become the key resistance. Only if price can regain and hold above here will the downtrend likely stop. On the bounce, first expect it to push up toward 60000 and 60636. If it can’t get back up, it’s very likely to keep refreshing the lows.
Trading levels
On a volume breakout above 59078, go long on the right side. When price reaches the left side near 60695, scale out and consider shorting in batches. Set a stop loss.
If the 1-hour chart holds above 59078: target 60000~60695. If the 4-hour chart breaks below 58326: expect downside toward 57750 and 57322.
Resistance: 59078, 60000, 60695
Support: 58326, 57750, 57322
$ETH ETH
After earlier breaking below the long-term trend line and the 1583 support, the price didn’t continue falling. Instead, it reclaimed the area above, and formed a W-bottom here. The neckline is 1583. As long as it holds the 1510-1520 range, it won’t drop sharply.
Trading rules
On a volume breakout above 1587, go long on the right side. On a volume breakdown below 1556, go short following the move.
If it pulls back to and stabilizes around 1522, you may try a long; if it breaks below 1500, cut the loss. If it rises to 1662, you can set up a short; if it breaks above 1706, stop out.
Place a buy limit on the left side at 1456; stop loss at 1416.
If the 1-hour chart holds above 1587: targets 1607 and 1640. If the 4-hour chart breaks below 1553: look down to 1520 and 1500.
Resistance: 1587, 1607, 1640
Support: 1558, 1520, 1500
Warm reminder: This article is only a technical review and does not constitute investment advice #原油价格下跌
Again testing the previous resistance; a breakout means acceleration.
To the brothers who don’t have orders in hand, wait for the pump, then enter short.
7.1 Market analysis
$BTC BTC
The flag pattern has broken down; an internal M-top has formed. It has broken through the 59078 support and made a new low. The previous long consolidation range has been completely invalidated. Now 59078 has become the key resistance. Only if price can regain and hold above here will the downtrend likely stop. On the bounce, first expect it to push up toward 60000 and 60636. If it can’t get back up, it’s very likely to keep refreshing the lows.
Trading levels
On a volume breakout above 59078, go long on the right side. When price reaches the left side near 60695, scale out and consider shorting in batches. Set a stop loss.
If the 1-hour chart holds above 59078: target 60000~60695. If the 4-hour chart breaks below 58326: expect downside toward 57750 and 57322.
Resistance: 59078, 60000, 60695
Support: 58326, 57750, 57322
$ETH ETH
After earlier breaking below the long-term trend line and the 1583 support, the price didn’t continue falling. Instead, it reclaimed the area above, and formed a W-bottom here. The neckline is 1583. As long as it holds the 1510-1520 range, it won’t drop sharply.
Trading rules
On a volume breakout above 1587, go long on the right side. On a volume breakdown below 1556, go short following the move.
If it pulls back to and stabilizes around 1522, you may try a long; if it breaks below 1500, cut the loss. If it rises to 1662, you can set up a short; if it breaks above 1706, stop out.
Place a buy limit on the left side at 1456; stop loss at 1416.
If the 1-hour chart holds above 1587: targets 1607 and 1640. If the 4-hour chart breaks below 1553: look down to 1520 and 1500.
Resistance: 1587, 1607, 1640
Support: 1558, 1520, 1500
Warm reminder: This article is only a technical review and does not constitute investment advice #原油价格下跌