#大盘走势
In the recent market analysis, we clearly stated our bearish outlook after the interest rate cut meeting on the 18th, with Ethereum being particularly weak. Altcoins are dragged down by it and may suffer even more惨惨…… The market's development has evolved just as analyzed, with Ethereum leading the plunge today, directly smashing into the support at 4077, creating a long bearish candle. Many altcoins have dropped more than twenty points these past two days, with bulls suffering a disastrous defeat!
The liquidation data shows that this drop has seen long positions liquidated over 1.5 billion, the largest single-day long liquidation since 2021. I wonder how many people are struggling to sleep tonight…… Friends in the community were notified to exit when Bitcoin surged to 117900 a couple of days ago, successfully avoiding the major drop, which is commendable!
As for the upcoming trend, let's first talk about Bitcoin. The drop here is relatively small, with the daily line showing a short lower shadow. Since the drop has directly breached the short-term support at 112600, and there is still some distance from the lower support level at 110500, it is difficult to say we have already bottomed out. It would be best to touch the 110500 line again, allowing for a breach of 110000, but the daily line must close back. Once we reach here, the probability of entering for a rebound will increase significantly. Bitcoin is secondary; we should focus on Ethereum. Ethereum's large bearish candle has already released quite a bit of downward momentum, and the position at 4077 has reached the upper range of the buying zone we mentioned several times at 3900-4100. Additionally, the exchange rate is also close to important support. Overall analysis suggests that Ethereum has limited downside space, and the possibility of a strong upward move has greatly increased. If Bitcoin goes to 110000 to find support, and Ethereum is influenced to drop close to or even breach 4000, it will be a good short-term opportunity!
Now that the market has reached this point, let me reiterate the overall principle: all participation is aimed at short-term rebounds. The probability of Bitcoin having topped out here is increasing, and only Ethereum still has the possibility of making another upward push to form a top. The two words for operation are: don’t be greedy! Uptrends are opportunities to sell. Adopt a short-term band strategy, and consider long-term opportunities only after significant drops!
$ETH
In the recent market analysis, we clearly stated our bearish outlook after the interest rate cut meeting on the 18th, with Ethereum being particularly weak. Altcoins are dragged down by it and may suffer even more惨惨…… The market's development has evolved just as analyzed, with Ethereum leading the plunge today, directly smashing into the support at 4077, creating a long bearish candle. Many altcoins have dropped more than twenty points these past two days, with bulls suffering a disastrous defeat!
The liquidation data shows that this drop has seen long positions liquidated over 1.5 billion, the largest single-day long liquidation since 2021. I wonder how many people are struggling to sleep tonight…… Friends in the community were notified to exit when Bitcoin surged to 117900 a couple of days ago, successfully avoiding the major drop, which is commendable!
As for the upcoming trend, let's first talk about Bitcoin. The drop here is relatively small, with the daily line showing a short lower shadow. Since the drop has directly breached the short-term support at 112600, and there is still some distance from the lower support level at 110500, it is difficult to say we have already bottomed out. It would be best to touch the 110500 line again, allowing for a breach of 110000, but the daily line must close back. Once we reach here, the probability of entering for a rebound will increase significantly. Bitcoin is secondary; we should focus on Ethereum. Ethereum's large bearish candle has already released quite a bit of downward momentum, and the position at 4077 has reached the upper range of the buying zone we mentioned several times at 3900-4100. Additionally, the exchange rate is also close to important support. Overall analysis suggests that Ethereum has limited downside space, and the possibility of a strong upward move has greatly increased. If Bitcoin goes to 110000 to find support, and Ethereum is influenced to drop close to or even breach 4000, it will be a good short-term opportunity!
Now that the market has reached this point, let me reiterate the overall principle: all participation is aimed at short-term rebounds. The probability of Bitcoin having topped out here is increasing, and only Ethereum still has the possibility of making another upward push to form a top. The two words for operation are: don’t be greedy! Uptrends are opportunities to sell. Adopt a short-term band strategy, and consider long-term opportunities only after significant drops!
$ETH
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ETH
3,089.44
-4.48%
SOL
132.5
-2.58%
DOGE
0.13682
-2.37%
