Ready to take a hit Reflecting on my trades this time First: Didn't set a stop loss before placing the order Second: Wrong direction and didn’t open a long position for hedging in time This is another careless mistake after the March liquidation 😔 The tuition is really expensive 😭
It's time to return. Ever since the big drop at the beginning of February, the market has entered a consolidation phase, and we are now at the tail end of this phase. I should be back.
To be honest, seeing so many big players with impressive profits is really shocking. I've been used to trading large amounts with small capital and then withdrawing, but this time I want to try what it feels like to keep trading without withdrawing. My account has been around for a while, and I've played with many altcoins, so the data doesn't look very good. I plan to open two accounts: one for mainstream coins and one for altcoin speculation, haha.
Let's work hard together, brothers! (I also want to reach over A8 before going public with my real trades, sob)
It's time to return. Ever since the big drop at the beginning of February, the market has entered a consolidation phase, and we are now at the tail end of this phase. I should be back.
To be honest, seeing so many big players with impressive profits is really shocking. I've been used to trading large amounts with small capital and then withdrawing, but this time I want to try what it feels like to keep trading without withdrawing. My account has been around for a while, and I've played with many altcoins, so the data doesn't look very good. I plan to open two accounts: one for mainstream coins and one for altcoin speculation, haha.
Let's work hard together, brothers! (I also want to reach over A8 before going public with my real trades, sob)
Last night I posted an analysis, very detailed, so if you haven't checked it, remember to look back. The key point is about Bitcoin bulls, a fleeting story.
Now, let's pray that 870 can hold; if it can't, then we'll see a major level at 850.
Tonight, I'll briefly talk about Ethereum.
Ethereum at the 3050 position is like a gate; after multiple attempts to break through, if it fails, it must retreat downwards and gather strength for a second offensive.
From the 4-hour level, 2900 has some support, as it has withstood several pullbacks, but it is not strong support; strong support must be at the 2800 mark.
This is because it is the support level on the weekly chart. You can open the weekly chart to see that regardless of whether it fell to 2600 or 2700 before, it could always bounce back to the 2800 position, so 2800 is the final card for Ethereum.
For Ethereum, a second pullback to 2800 is expected to form a W double bottom shape. Of course, we will leave the validation of this expected W double bottom to time.
If we consider the timing, it would be best if it happens in early February; with this expected W double bottom, I personally have great confidence.
Went out to play for a week, before going out, Bitcoin was around 910, Ethereum was around 3100, which means that in the past week, the prices haven't changed, where have many people's positions gone...
Indeed, the current market environment is like this, liquidity is indeed lacking, and as soon as there is a slight upward trend, countless sell orders come in, giving a heavy blow to the bulls. I've seen this wave where everyone is criticizing Trump for what he has done with tariffs.
In fact, the impact of tariffs is just accelerating the decline, not the main factor. Moreover, Trump's intention is not really to impose tariffs; with the EU intervening in the Russia-Ukraine issue, since you intervene, I will impose your tariffs. The drunken man's intention is not in the wine; we need to look through the phenomenon to see the essential problem.
Okay, enough small talk, let's talk about the market trend.
Bitcoin and Ethereum have both broken through the most critical support level of 945. After breaking down, the decline accelerates, and below we need to test the 90,000 support level, which is also the position of the top-bottom conversion and is very, very critical.
In the past month, it has indeed repeatedly tested the 90,000 level, and the previous 90,000 encountered resistance and fell back. Later, breaking through 90,000 became support, so 90,000 is the biggest highlight of the battle between bulls and bears. If it breaks below 90,000, it will have to return to test the 86 support level. If it can hold above 90,000, there is a chance to challenge the strong resistance level of 945.
Ethereum's top-bottom conversion at 325, after breaking down, accelerates downward. Below, it needs to test the 305 support point, which is also the previous high point. Now, after breaking upward, it has become a top-bottom conversion. Once the position at 305 cannot be held, there is a high probability that Ethereum will head towards the weekly support level of 2800. If it can hold above 305, there is a chance to challenge the strong resistance level of 3250.
At this stage, my suggestion is not to take action in the middle position. If it goes down, then enter long at the strong support level; if it goes up, then enter short at the strong resistance level.
The changes in the market are far more complex than you can imagine. We can only control our emotions and positions. Since we are here, we should be at peace with it. If we can't do this,
Then why should you make money??? Why should it be you making money???
There's nothing much to analyze, I've held the long position for several days now, with some ups and downs, it has indeed been a bit torturous... Please give me a clear answer tonight.
Bitcoin has stabilized at 905 with a strong breakout in volume, if it goes up, it will reach 925, but if it can't hold 905, be cautious of the risk of a retracement. However, the recent lows have been continuously rising: 868-872-883, there won't be much room for a significant decline in the short term, and it has started to move in a range-bound upward trend.
Ethereum has stabilized at 3050 with a strong breakout in volume, if it goes up, it will reach 3130-3150. If it can't hold here at 3050, be cautious of the risk of a retracement, but there isn't much room for a decline either, with the lows continuously rising: 2940-2960-2990, it is also moving in a range-bound upward trend.
Tonight, either you make a strong move up and I take profits and leave, or you make a strong drop down and I take losses and leave. Please, don't torture me anymore...