The market follows certain rules, and trends are always objectively present, just not yet discovered. Traders cannot change the trend, but they can identify and follow it. Therefore, as long as you operate according to the objective facts and rules of the market, it is possible to make money. Just like the energy of an atomic bomb, the holder of the energy is not the one who made the atomic bomb, but the atom. Traders should try to discover this rule as much as possible, and ultimately use this rule to make some high-probability judgments for the expected market trends. The next step is to wait for the right opportunity and then enter and exit.
Hello everyone, I am trader Gege. Continuing from the previous article, let's first talk about the long positions provided by Dabing in the previous article. Two ranges were given for entry: the first one at 68,800-67,800 saw a small rebound after reaching it, but with limited strength. The second one, 67,000-66,300, was very good. As mentioned in the previous article, once the first range was broken, the second range should be used for entry. The market rebounded around 66,200 and reached around 70,700, which was quite profitable. For short-term trading, there is a space of $3,000-4,000.
Moving on to the expectations, Auntie's spot ETF was approved all at once, although it was previously said that it would be approved in batches. However, the SEC approved all at once, which is also a positive development. This also raises expectations for ETFs for other mainstream altcoins. Although it has been approved, it has not yet been listed, and the overall major trend is still positive. Keep an eye on this month's CPI, as it will affect interest rate cuts. As for the news, it is better to wait for it to materialize before responding. The expectation for a bull market is still there, it's just a matter of time, perhaps it will take a little longer.
Returning to the market situation, the trend should be described in more detail in the previous article, and the same view should be maintained. The monthly chart is closing, and the weekly chart is about to close. As mentioned in the previous article, there is still a probability of following the "M" pattern on the weekly chart. If the current pattern is maintained, the support of the 7-day moving average next week will be particularly crucial. The overall view is to continue to refer to the previous article's analysis. On the daily chart, the market is currently testing near the middle track, and if it breaks below, it will be important to focus on the 60-day moving average. As long as it does not break 64,000-63,000, the trend is not bad, as mentioned in a previous article.
In the near term, it is not advisable to make trend suggestions. Pay more attention to short-term operations. On the 4-hour chart, pay attention to the short-term support near the EMA200. Currently, the candlesticks are converging at the end of a triangle pattern, and the turning point is getting closer. Although there is support from the triangle trend line below, the probability of breaking below and then rebounding from the EMA200 cannot be ruled out. Therefore, the short-term suggestion for Dabing is to enter long positions around 66,500-66,000. If there is a break below, consider entering the range of 64,500-63,700.
Alright, friends, we will say goodbye for now. I wish you all the best, and may you have a bright future in the cryptocurrency world! More real-time suggestions will be sent internally. Today's analysis ends here. For more real-time suggestions on Dabing and Auntie, please contact Gege. Suggestions are for reference only. Enter the market with good risk management. Determine profit and stop-loss levels on your own, and consult for specific strategies during trading.
When you gather the courage to let go of fear and doubt and move forward step by step, you will find that with each step, you can see the next step more clearly. Keep moving forward, don't just stand far away and watch! You will find your direction. We have all fantasized about what life would be like if we could turn back time and redo all the regrets. Instead of spending time dealing with an unsatisfactory life in the future, it's better to spend time creating the life you want!
By/Trader Gege, a friend willing to accompany you on the road to success.
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