Brothers, after experiencing this bone-chilling plunge, the bears' crazy outpouring should calm down soon. Right now, don’t mindlessly short right above the support levels for Bitcoin and Ethereum, because the real 'moat' from the big players has arrived, and a rebound could trigger at any moment!
📉 Bitcoin (BTC): Holding on to the last drop of blood at 62863 long.
Check out Bitcoin's 4-hour cycle:
Market Status: Bitcoin recently broke below that green uptrend line and has been rolling down the red slope ever since. Over the past couple of days, it has smashed through several support levels, and now it's fallen into the core green box (63000 - 66000).
The yellow line at 62863 is the dignity of the bulls that can't be trampled. As long as this line isn't decisively breached on the 4-hour chart, the longer-term consolidation is still alive. Plus, the market is already 'nosedived', so in the short term, the main players might organize a decent rebound here.
📉 Ethereum (ETH): A sharp move, the 'violent shakeout' from the market makers.
Now let’s take a look at the more nerve-wracking action in Ethereum:
Market status: Ethereum previously dropped along the red downward line even worse than Bitcoin, but just now, it made a very dramatic move—taking a step down into the deepest red pit (around 1800 - 1830), then quickly pulling back!
Market insights: Check out that long lower wick (what we call a 'pin bar'), the price was quickly pulled back to around 1882. What does this mean? It indicates that there are tons of whales and institutional buy orders lurking around the 1800 mark, just waiting for retail traders to panic and cut losses. This pin is a blatant signal of a shakeout.
🛠 Recent trading guide: What’s the play now?
At this point, instead of playing the role of the short seller's bag holder, it’s better to patiently wait for a bullish counterattack, or wait for a rebound before going short.
🟢 For those wanting to go long (betting on a rebound from oversold conditions)
Bitcoin entry: As long as Bitcoin holds steady between 64500 - 65500, showing signs of main player support, you can gradually enter left-side long positions with small amounts. Remember, stop loss tightly pegged below the yellow line at 62800, if it breaks, just accept defeat.$BTC
BTCUSDTPerp65,840.1+0.28%Ethereum entry: Since Ethereum's big pin bar closed so nicely, you can start scaling in as it pulls back to 1850 - 1870. Set your stop loss below the lower edge of the red box at 1790.$ETH
ETHUSDTPerp1,763.79+2.77%Take profit target:
For Bitcoin, the first wave of rebound targets around the red resistance at 72000.
For Ethereum, the first step targets the strong resistance area around 1960-2016.
🔴 For those wanting to short (waiting for high points to strike)
Market maker advice: Going short now offers little profit potential and carries significant risk. If you’re a committed bear, be patient. Wait for this price rebound to test the upper red diagonal downtrend line (Bitcoin around 72,000 - 73,000, Ethereum around 1960 - 2060). When you see it struggle to rebound and form a big upper wick getting rejected, then you can strike.
💡 Market maker reminder: The current market is like gods fighting, with huge volatility—don’t play games with your capital, keep your hands steady, and strictly implement a 1% risk control. As long as the support line holds, rebounds will happen; but if the daily candlestick closes below the yellow line, be ready to fully defend and retreat at any moment.
With this big pin bar, do you think the market makers are trying to lure in buyers or has it really bottomed? Let's discuss in the comments, or catch me in my live stream at 11 PM to see how I navigate this market shift in real-time!