Hey, folks! The week is wrapping up, and it's Friday already. How's everyone doing? Has your portfolio taken a hit? My spot holdings have shrunk again...
Right now, the market is fluctuating around 63000, but the trend suggests a weak rebound. There are no clear signals indicating a stop to the decline, so we'll have to keep waiting for the market's next move. The market has also entered a short-term silence, and whether it will stabilize or slowly form a bottom remains to be seen. We need to be patient and watch for any new news or institutional fund flows.
In my personal view, the overall market will continue to dip. We're likely to see more consolidation in the short term. It's just a matter of time before we breach 60000. On a weekly chart level, the trend is still in a downwards channel, and we are forming a head and shoulders pattern at the weekly level. For a solid support level to form, we need to keep an eye on the 55000 area.
As for whether the monthly chart will create a super V-shape, there are too many uncertainties. So let's take it step by step and observe the future trends. In short, unless the market gives a clear signal, I recommend being cautious with long positions. For now, stick to short-term trading strategies, and as for spot trading, as previously mentioned, it's best to accumulate in batches when buying the dip.
Today, keep an eye on whether BTC will hold the support around 61000. ETH has already broken below the new low of 1736 from this year; its movement is even weaker than the overall market. It's easy to see it drop below 1700 in the short term, so let's watch the support around 1650. SOL has also dipped below its new low for the year, so let's focus on the 64 area for now.
Today's contract strategy:
BTC: Short at 63500 or on a spike, take profit at 60500
ETH: Short at 1750 or on a spike, take profit at 1680
SOL: Short at 68.5 or on a spike, take profit at 65
Friendly reminder:
1. Set your stop-loss according to your actual liquidation price and your risk tolerance.
2. Don’t be greedy; it's better to take a small loss than to hold onto a losing position. If you’re right on direction, just hold.
$BTC $ETH $SOL
Right now, the market is fluctuating around 63000, but the trend suggests a weak rebound. There are no clear signals indicating a stop to the decline, so we'll have to keep waiting for the market's next move. The market has also entered a short-term silence, and whether it will stabilize or slowly form a bottom remains to be seen. We need to be patient and watch for any new news or institutional fund flows.
In my personal view, the overall market will continue to dip. We're likely to see more consolidation in the short term. It's just a matter of time before we breach 60000. On a weekly chart level, the trend is still in a downwards channel, and we are forming a head and shoulders pattern at the weekly level. For a solid support level to form, we need to keep an eye on the 55000 area.
As for whether the monthly chart will create a super V-shape, there are too many uncertainties. So let's take it step by step and observe the future trends. In short, unless the market gives a clear signal, I recommend being cautious with long positions. For now, stick to short-term trading strategies, and as for spot trading, as previously mentioned, it's best to accumulate in batches when buying the dip.
Today, keep an eye on whether BTC will hold the support around 61000. ETH has already broken below the new low of 1736 from this year; its movement is even weaker than the overall market. It's easy to see it drop below 1700 in the short term, so let's watch the support around 1650. SOL has also dipped below its new low for the year, so let's focus on the 64 area for now.
Today's contract strategy:
BTC: Short at 63500 or on a spike, take profit at 60500
ETH: Short at 1750 or on a spike, take profit at 1680
SOL: Short at 68.5 or on a spike, take profit at 65
Friendly reminder:
1. Set your stop-loss according to your actual liquidation price and your risk tolerance.
2. Don’t be greedy; it's better to take a small loss than to hold onto a losing position. If you’re right on direction, just hold.
$BTC $ETH $SOL