Master Discusses Hot Topics:

Brothers, let me tell you that today is the lunar calendar 312! Sounds a bit absurd, right? The current market is simply a big news market. What does it mean to be a news market?

It means that the market trends rely entirely on news, one moment this news pops up, and the next moment that news comes out, leaving everyone feeling anxious. Fortunately, the market has started to get used to this rhythm and is slowly desensitizing.

Because most of the bad news has already been released, now it’s just a matter of whether any good news can pop up before these bad news land. This is a window period; trading is about playing expectations, and speculation is the process.

So how are market tops and bottoms formed? Simply put, it’s about which side can’t hold on anymore, when the money runs out, and real cash is put on the line. So the question arises, is the current market lacking money?

Just look at the Nasdaq's 10% fluctuations in a day, and you’ll know that liquidity is still there; it just needs a spark to ignite everyone’s enthusiasm.

Back to Bitcoin, after breaking through 80k last night, it fell flat this morning, dropping back to around 74.6k. This rebound can be considered completely over. It didn’t even get a chance to touch 81k, the pace is incredibly fast!

Personally, I feel that it will likely dip down to the range of 74k to 68.8k next, then recover to 73.8k, and test around 66.3k before making another rebound. In simple terms, it’s a roller coaster that first dips and then pulls back up.

As for Ethereum, I guess everyone doesn’t want to look at it anymore. If I held Ethereum spot, I would also be quite troubled. To be honest, Ethereum itself isn’t that problematic; the complaints are mainly about Ethereum and the foundation being too laid-back, not keeping up with the pace of the times.

With the market in such chaos, they don’t even come out to say a word to reassure people, not even making an effort to stabilize emotions. In this regard, Vitalik is not as good as Chuanzi at handling things.

If you’re still losing money in short-term trading under the current market conditions, I believe there’s only one reason: you’re going against the trend. When it dips to a low point, you think you can catch the bottom, but what happens? You try to catch the bottom, and it catches you instead!

So, in the short term, going long can only net you a bit of profit before you pull out; don’t be greedy. It’s not a deep bear market yet; if it really turns into a deep bear market and you keep playing like this, even if you have a gold mine at home, it will all be burned out. After a few major downtrends, you’ll definitely be left in a submissive state.

The monthly and weekly charts show a clear bearish trend, and the daily and hourly charts are also weak. This is a weak market; in a weak market, you can only short. If you haven’t shorted in the past two years, you’ve already eaten well. This year and next, if you do less counter-trend long, you can at least survive. Note that this means not going long against the trend, not mindlessly shorting all the time.

Master Looks at Trends:

Resistance Levels Reference:

First Resistance Level: 77300

Second Resistance Level: 76200

Support Levels Reference:

First Support Level: 74700

Second Support Level: 73700

Today's Advice:

Currently, Bitcoin is still in a downtrend. Even if there’s a slight rebound in the short term, don’t be too optimistic. It will still drop after the rebound; it’s still too early to touch the bottom.

In the current situation, 76.2K to 77.3K is a resistance range; there might be a technical rebound, but the possibility of breaking through this range is low.

Current lows are often broken, which will accelerate the downward movement, forming an N-shaped decline. If there’s a chance for a very short-term rebound near the support level, and you want to be more cautious, you can wait for a rebound after breaking the support and see if the K-line can stand back on the support. If it can’t return and turns into resistance, then you can consider shorting.

4.9 Master’s Swing Trading Setup:

Long Entry Reference: Not currently referenced

Short Entry Reference: Light short in the 77300-78000 range, Target: 76200-74700-73700

This article is exclusively planned and published by Master Chen (public account: Coin God Master Chen). Master Chen is the same name across the internet. For more real-time investment strategies, solutions, spot trading, short, medium, and long-term contract trading techniques, operational skills, and K-line knowledge, you can join Master Chen for learning and communication. A free experience group for fans has been opened, along with community live broadcasts and other quality experience projects!

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