🔺The current mainstream cryptocurrency assets continue to show a volatile market,
🔸However, from a local perspective, $BTC and $ETH 's trends are approaching a converging triangle,
🔸This means it is about to break through the upper descending trend line for a rebound or fall below the lower ascending trend line for a correction, indicating a forthcoming direction,
🔹Need to pay attention to the subsequent market trends, wait a bit, while SOL is still oscillating at the bottom of the range, showing weak performance
🔻Today's market continues the previous analysis. The support level holds effectively or looks for a rebound. The daily level still maintains a volatile trend,
🔸Currently, $BTC 84500 and $ETH 2800 support levels have been validated effectively, and as expected, a rebound has emerged,
🔸Currently, positions are all at a profit-taking level of 50%. If the rebound trend is not disrupted, it is recommended to continue holding the remaining positions,
🔸BTC's next profit-taking target is 93000, ETH's next profit-taking target is 3125
🔺Recently, the market has been greatly impacted by macro news. Last night, the US CPI was significantly lower than expected, leading to a market rebound,
▪️However, the rebound was not sustained, resulting in a rollercoaster market,
▪️Today, the Bank of Japan raised interest rates by 25 basis points as expected, and the market initiated another round of rebound,
▪️But the sustainability remains questionable,
▪️Therefore, it is recommended to go long at low support levels and short at high resistance levels,
🔹But it is essential to strictly implement take profit and stop loss strategies, with narrow gains and narrow losses, to lock in profits in a timely manner.
🔸As previously analyzed, after holding the bottom of the range, there was a rebound last night, but the rebound could not be sustained,
🔹$BTC and $SOL have returned to the bottom of the range again, with BTC85000 and SOL122 positions being repeatedly validated, showing strong support,
🔹however, $ETH has completely broken the previous upward trend and switched to range fluctuations, currently it's uncertain whether the support level of 2720 can be effectively held.
▪️Tonight, the U.S. CPI and the Bank of Japan's interest rate hike are added, and the prices of mainstream coins have all reached key support levels,
▪️If they can hold, it is expected to initiate another round of rebound; if not, we have to look for support at lower levels,
▫️BTC looks at the integer level of 80000, ETH looks at 2600
🔻Today, let's share some insights on the relationship between volume and price. This relationship is the core of the Wyckoff theory.
🔺The principle is quite simple, mainly grasping the principle of effort and result.
🔹Trading volume is viewed as effort, and price changes are seen as results. If there is effort and a result, it indicates that the trend is normal. If there is effort but no result, it signals a divergence between volume and price, indicating a change in trend that requires caution.
🔹For example, if volume increases but price remains stable, it indicates that selling pressure is increasing, which may signal a potential reversal.
🔻The volume-price relationship can manifest in four scenarios during a bullish market: These are: accelerated price increase with increased volume, accelerated price increase with decreased volume, decreased price increase with increased volume, and decreased price increase with decreased volume.
🔸Accelerated price increase with increased volume indicates that buying interest is rising, so one can buy or hold;
🔸Accelerated price increase with decreased volume indicates that selling pressure is rising, and the effort-result mismatch suggests reducing positions;
🔸Decreased price increase with increased volume indicates that selling interest is decreasing, allowing for position building or holding;
🔸Decreased price increase with decreased volume indicates that buying interest is decreasing, suggesting consideration for taking profits or reducing positions.
$BTC 、$ETH 、$SOL were affected by the decline in the US stock market last night, all breaking through the previous support levels,
BTC and SOL have evolved from a 4-hour cycle range oscillation into a larger cycle level oscillation,
respectively gaining support at 85000 and 124,
while ETH gained support at 2900. From a daily level perspective, it is still moving in an upward channel. If the current positions can effectively support, there is hope for a rebound.
🔺The current market trend is the same as previously expected,
$BTC and $SOL are still in a range-bound oscillation, currently at the bottom range of the box, and have encountered strong support at the bottom of the box,
🔸Near BTC88000 and SOL129, the support is quite strong,
🔹Meanwhile, $ETH is still in an upward channel and has encountered strong support at the lower edge of the upward channel, especially above the 3000 position,
🔹The current position is still one where holding long positions is advisable, with profit-taking looking towards the upper edge of the box and channel
#美联储降息 The interest rate cut doesn't seem to have brought any good upward momentum, still the same levels as yesterday. $BTC 89000-94000 range fluctuations $ETH 3100-3200 fluctuations, can go long at support.
Also pay attention to Japan's interest rate hike on the 18th.
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🔺From the 4-hour cycle perspective, $BTC , $ETH trends continue to diverge, BTC and SOL trends are more similar, both breaking out of the box structure,
🔸BTC fluctuates in the range of 89000-94000, SOL fluctuates in the range of 130-144,
🔸In terms of operations, focus on low long and high short, which is a typical rising trend of bottom lifting, continuing to rebound after completing the support-resistance switch in the range of 3150-3200, it is recommended to primarily go long based on the support level.
🔹 BTC and SOL around the box high short and low long, ETH is recommended to primarily go long.
🔻$BTC 、$ETH 、The trends of the three major cryptocurrencies, SOL, are still within expectations, 🔸BTC and SOL are both forming ascending triangle patterns, encountering resistance around 94000 and 144 respectively, which has been validated several times as strong pressure,
🔸However, the bottom is gradually rising, and ETH is currently the strongest, moving in an ascending channel,
🔸Last night, it reached a new high again, but encountered resistance at the upper edge of the channel,
🔹If the price can reach the lower edge of the channel, it is recommended to focus on going long.
🔺$ETH formed strong support again at position 3100, and a bottom support signal appeared, 🔸but why did I choose to go long on ETH first, instead of BTC or SOL? 🔸this is the judgment and comparison of trend strength, currently, ETH has a stronger upward trend strength, and in trading, the stronger the trend, the more it is worth following
🔺Yesterday I shared the pattern, ETH is a standard bull flag pattern, which is a continuation pattern, 🔸upward trend + continuation pattern = bullish pattern, and the upward momentum is strong while the pullback momentum is weak, therefore, it is still recommended to primarily go long at support levels
🔻Today I will share some common candlestick patterns in price action trading systems,
🔻Overall, they can be divided into continuation patterns and reversal patterns. Continuation patterns suggest that the market is likely to continue the current trend,
🔻For example, bull flags, bear flags, ascending and descending triangles, etc., while reversal patterns often indicate that the trend may reverse,
🔸Common examples include double tops and double bottoms, head and shoulders tops and bottoms, V-shaped reversals, rounded tops and bottoms, etc. Generally, after forming a pattern, entering the market corresponds to right-side trading.
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🔸The current trends of BTC, ETH, and SOL are diverging. BTC is forming an ascending triangle pattern,
🔹with the bottom gradually rising. The pressure around 93,000 to 94,000 USD forms a strong resistance, while ETH is moving in an ascending channel. A quick rebound occurred last night when it touched the lower edge of the channel, showing very strong support around the 2900-3000 position, with resistance projected at 3300,
🔺SOL is also forming an ascending triangle, with strong resistance near 144.
#美联储重启降息步伐 🔻It has been 8 weeks since the major liquidation on 10.11. Observing the reversals after the previous significant drops, 8 weeks should be an important reversal period for a person.
🔻There will be one last interest rate cut in 25 years, and the market is expected to warm up accordingly.
🔻In conjunction with the foreign New Year before Christmas and the law that dictates a drop during festive periods, another decline is anticipated around that time.
🔸Therefore, there is no need to rush to buy the dip at the moment; just pay attention to the market in conjunction with the interest rate cuts.
#美SEC推动加密创新监管 The United States is still innovating regulations, while China has firmly clarified its policy orientation to suppress virtual currencies, including stablecoins.
Affected by this news, the price of u has plummeted, now hovering around 6.93. Therefore, $BTC has also retraced to below 90,000, and is currently still in a range of fluctuations.
Liquidity is not very sufficient over the weekend, so if there’s nothing happening, it’s best to maintain a resting state and not rush to open positions unless extreme one-sided market conditions occur.
🔻$BTC $ETH $SOL have broken through the important resistance level on the daily chart, 🔹93,000, 3,100, 144, and the momentum of this breakout is relatively strong, 🔹after the breakout, it formed a W bottom reversal pattern and broke through the downtrend line, 🔹therefore, it is currently recommended to mainly go long, ETH is performing strongly under the influence of the Fusaka upgrade, 🔹after breaking the resistance level, it formed a W bottom reversal pattern, indicating that the current downtrend may have ended.
🔸In terms of operations, it is not recommended to chase highs; currently, it is suggested to look for a pullback. If the pullback does not break the potential support level of 3,100 and completes the support-resistance exchange, that would also be an opportunity to go long