Last night, the market continued to rise following the increase in US stocks, and the overall market rebounded well, breaking through the 90,000 mark that the market is paying attention to. The entire cryptocurrency market showed signs of recovery, giving the market renewed confidence and hope. As a result, market sentiment shifted from extreme panic to a state of fear.
Although the current market trend is temporarily fluctuating around 90,000, whether it can truly stabilize near this level is a key focus for the market. A few days ago, I mentioned that the market had entered a short-term downward trend. Therefore, considering the current market trend, I personally believe there is still a chance for the market to stabilize in the short term and rebound again. Remember, I'm talking about the short term here; in the long term, the market is still in a downward trend.
From the BTC, ETH, and SOL liquidation maps, we can see that they are currently dominated by bulls and are dense. They are still approaching a dense area of bears. Additionally, the capital flow for spot institutions yesterday was as follows: a net outflow of $21.7 million, a net inflow of $10.6 million, and a net outflow of $8.2 million. The overall trading volume of funds is not very large, remaining cautious and primarily observing. However, the net outflow of SOL needs attention. It should be noted that the ETF has not yet reached the closing time, so it would be more accurate to wait for the closing to assess.
At this moment, the market is still continuing to rise, and there is still some action, so short-term and swing trades can be considered. Whether a significant market movement will occur still needs further attention, as the fluctuations in recent days often happen after the US stock market opens.
Short-term spot trading strategy:
Long BTC at 90,000 or buy on dips, increase position at 88,000, and take partial profits at 92,500.
Long ETH at 3,000 or buy on dips, increase position at 2,950, and take partial profits at 3,150.
Long SOL at 142 or buy on dips, increase position at 139, and take partial profits at 147.
Warm reminder:
1. Stop-loss suggestions should be set based on personal actual liquidation prices and the amount of loss one can bear.
2. Do not be greedy; securing profits is key. It’s better to accept a small loss than to resist the trade. If the direction is correct, continue to hold.
