Currently, Bitcoin experienced a liquidity exhaustion trend over the weekend; the 4-hour level is just a straight line. Then, it started to decline yesterday, dropping below $90,000, but the market did not panic. After the market opened this morning, it was pulled back, but it still hasn’t reclaimed $90,000.
The 4-hour level still maintains a wide range of fluctuations. The Bank of Japan will continue to suppress bullish trends before raising interest rates. After the rate hike is implemented, the market will shift from a bearish perspective to a rebound. We will wait and see.
There are more opportunities in the altcoin space; I suggest everyone pay more attention.
BTC
BTC has perfectly broken below a series of support levels and fallen back to the downward trend pressure line for a rebound. The support above has turned into a resistance level and is being pressed down. Bulls are not considering entering at this stage; BTC still needs to undergo a sideways adjustment at the current position before a result can be expected.
You can short with a light position at 89640, with a stop-loss set for breaking above the resistance level. Watch for breaking below the previous low. If there is a second pullback and support is found at the bottom, consider going long, aiming to break above the 89640 resistance.
ETH
Currently, ETH is performing quite strongly, oscillating back and forth. Yesterday, it did not effectively break below the 20-day moving average, and there may still be a chance for a rebound. However, the current position is quite awkward, with significant risks in both shorting and going long. I am still patiently waiting for a more suitable opportunity.
The 4-hour resistance is at 3157, and the ETH/BTC exchange rate has also reached a key resistance level. A breakthrough is necessary for better upward movement. Watch the 3080-3050 range to see if it can sustain buying, or you might want to wait for 2820.
PIPPIN
PIPPIN is like a single-machine coin, always pulling up. This kind of coin is generally not suitable for shorting, but it directly drops sharply when it falls. The operators typically open many long positions at low levels, then control the market at a higher level. The price keeps rising, and there will always be people chasing the price, which means there's basically no selling pressure. Pulling the price up doesn’t require too much capital, so the price remains very strong.
ASTER
ASTER has been experiencing continuous downward fluctuations, belonging to a bearish trend. Currently, it is within a triangular formation. Although CZ is optimistic and has purchased a considerable amount of this coin, the market liquidity is still too poor. After a surge, it immediately comes down. At this point, there haven't been any obvious signs of a bottom, and it is likely to continue the oscillating bearish trend. It is not recommended to invest heavily here.
Wait for a clear bottom signal before considering entry, as the overall market is still in a downward trend. Just be patient.
ZEC
ZEC has completed a wedge breakout and is currently at a support position showing strong bullish candlestick signals, with hopes of rebounding for a second test of the high point. The 400 range has potential profit advantages for long positions, while a failure to break the 462 high point on the second test could be shorted.
HYPE
HYPE is still performing quite steadily, with basically no changes, and it doesn't follow the overall market. The current formation is still in a descending wedge, which is a bullish pattern. After the oscillation ends, it is expected to explode, so it can be monitored closely.
BEAT
BEAT is a truly phenomenal coin. It has been oscillating up and down daily, then starts to reap profits. If you can understand its patterns, you might continuously earn! However, if you don't understand and go against the trend, then... as always, I don't have a long-term view on BEAT, but it will definitely surge violently in the short term, so waiting for a peak to short is the best choice!
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