Bitcoin was forcibly dragged down by the US stock market last night, hitting a low of around 85000. The 90000 USD mark, which had been held for many days, has finally been effectively broken, and it is currently hovering around 86000, with no support signals on the 4-hour level.
This week will be the most important one, with non-farm payrolls tonight, and on the 19th it will be Japan's interest rate hike day. There will be intense fluctuations this week. After this week, the panic sentiment will continue to dissipate, and the real rebound will be delayed until January.
What can be done now is to reduce leverage to take risks, allowing oneself to survive.
BTC
Shorting according to the pressure level I provided yesterday has already gained nearly 4000 points in profit. The current strategy can be changed to short on rallies; do not add more when it's low. If you must go long, do not take too many positions.
Currently, based on daily chart patterns, BTC has broken below 89000, with trendline support, MACD dead cross, indicating a need for further correction. The trend is still downward; rebounds can still be shorted. Consider shorting around 88000, holding below previous lows.
At the hourly level, BTC has not broken below 85000. From the sentiment indicator perspective, around 11. If the data retraces in the next few days, consider entering in batches; suggest 83000, and add three layers every 1000 points down.
ETH
ETH daily K-line lower track opens down, slowly expanding space; the middle track suppresses around 3070. The price is being pressed down by the lower track on the 4-hour level, with the middle track also around 3070. The hourly Bollinger Bands are expanding downwards.
(1) Intraday short-term view: ETH is oscillating narrowly between 2977-2914; observe the K-line trend, wait for a clear market movement before entering.
(2) Participate in short positions around 3000 and 3070, using yesterday's high point of 3170 as a defense. Support below focuses on 2900, 2800, and 2700; look for a wave down to 2500!
ASTER
ASTER 1.2 and 1.3 are concentrated intervals for KOL posts; looking at it now, you'll find that it coincides with the project's selling peak. Consider taking profits near 0.8 for shorting ASTER, as current data shows people are chasing shorts between 0.9-0.8; unless the market trends downward, shorting players will be at a disadvantage in oscillating markets.
MAGMA
Total supply 1 billion, initial circulation 19%, pre-market price 0.11, pool price 0.1, corresponding circulating market cap 19 million, FDV 100 million.
Positive: 1VL 25M, nominally the fourth largest DEX protocol of SUI. 2. VC firms like HashKey and SevenX are relatively well-known. 3. No news on community airdrop for now, strong control under current circumstances. 4. The sentiment is too good; the initial surge at opening is foreseeable, with a 100M FDV, which is not considered high under the current sentiment.
Negative: 1. The founder previously worked in real estate brokerage and has not posted anything related to the project. 2. The financing time is too close; financing this month. 3. The 24h protocol revenue is only $55, which is quite low; based on TVL and protocol revenue valuation, the market cap should be appalling. 4. Regarding the airdrop, there is a Points, and there will eventually be an airdrop, but it has not been announced yet.
Pay attention to the details of the official 10% airdrop notification, considering recent new coin sentiment + pre-market high control; the current pre-market circulating market cap of 19 million is barely acceptable, and it may be suitable to take some risks at opening; the current market cap has no advantage.
If you think our content is good, share our public account with your friends! Welcome to join and stay informed about the latest information in the cryptocurrency circle!
