Trader Gege: Analysis of Bitcoin and Ethereum Market from 4.7 to 4.8 Black Monday: Where is the way out for the bulls?

CN
4 hours ago

Trading is a process of trial and error! In the face of constant mistakes, the main issues are the shrinkage of funds and psychological torment! A trader must reduce the probability of making mistakes because your profits come from others' losses. In other words, profits in the market arise only when someone makes a mistake, but you cannot calculate or predict how many people will make mistakes next or how big those mistakes will be, nor can you guarantee that you will always be on the right side. Therefore, in trading, the only thing you can do is to minimize the duration of your mistakes when they happen. The rest is waiting for others to make mistakes, and we can encourage each other!

Hello everyone, I am trader Gege. Continuing from the last discussion, the biggest uncertainty in the current market is Trump's words, so in short-term operations, we try to filter out some news and focus on the technical feedback from candlestick patterns to reference and perform well in intraday short-term trading. After Bitcoin broke below 81,000 early this morning, it continued to decline, breaking below the previous low of 76,000, and rebounding around 74,500. In previous articles, I mentioned where to test after breaking the low. At that time, I said that if the previous low is broken, we should wait for an opportunity to enter around 75,000-73,000, which is still within expectations. Today we close the weekly line, so let's talk about it starting from the weekly line.

I previously expressed my views on the weekly level of Bitcoin in detail. Currently, the overall structure is still within expectations; the trend line has not been broken, MA60 has not been broken, and my defined bull-bear boundary has not been tested, so the overall directional view remains unchanged. Today, the weekly line closes with a downward test near MA60, followed by a rebound. For bulls, this price action is considered a good trend. From a trend perspective, as long as it retraces to MA60 or the trend line, or even the bull-bear boundary, it can be attempted. Another point to observe is that the MACD double line death cross is approaching the 0 axis, receiving support and turning upwards, which is also a very worthwhile opportunity to try. The small boundary above continues to focus on the vicinity of MA7 and MA30. I have emphasized many times before that in the short term, do not expect a super strong one-sided trend; pay attention to the resistance above, as the market is currently more inclined towards a large box range adjustment phase.

From the daily line level, based on the current candlestick pattern, a low point has temporarily formed. Maintaining this pattern to close the line will stop the downward trend and lean more towards a range adjustment. The short-term small boundary above should focus on the conversion point at 81,000. If it breaks and stabilizes, we should pay attention to the middle track and EMA200 nearby. The Auntie token rebounded around 1410, and after breaking below 1500, it recovered again. Overall, the trend is still consistently weaker than Bitcoin. For the daily line level, continue to focus on MA7, and in the short term, pay attention to the support situation above the previous low to participate.

Short-term Bitcoin: Long at 77,200-76,500, Short at 80,800-81,500.

Short-term Auntie: Long at 1,525-1,485, Short at 1,680-1,720.

PS: Try to use the strategy activation only once.

The suggestions are for reference only. Ensure proper risk control when entering the market, and manage your profit and stop-loss space accordingly. Specific strategies should be consulted in real-time.

Alright, friends, we will say goodbye until next time. I wish everyone continued success and smooth sailing in the crypto world! More real-time suggestions will be sent internally. Today's brief update ends here. For more real-time suggestions on Bitcoin and Auntie, find Gege.

Written by/ I am trader Gege, a friend willing to accompany you in your resurgence.

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