This article is exclusively analyzed by Bai Qi and Guan Yuyu, representing their exclusive viewpoints. They have in-depth research and practical experience in BTC, ETH, and various altcoins. Due to the timing of the article, the following viewpoints and suggestions are not real-time and are for reference only. Readers should bear the risks and indicate the source when reposting. It is important to control the position reasonably, avoid heavy positions, and not go all in. For more cryptocurrencies and spot strategies, please follow the official account.
BTC
Yesterday's Review: BTC initially fell to around 56500 before a small rebound, then accelerated the decline to the bottom support near 54150. When it reached the bottom support, there was another upward movement, and the current price is around 55700. Both of the long positions given yesterday have entered the market and are profitable.
Recent Focus: The upper range is 59700-58800, with a mid-range focus on 56500-56900, and the bottom needs to focus on the support range of 54850-54150.
Structural Form: The chart shows a double bottom structure in the candlesticks, and the yellow slope line has not been broken.
Points to Note: The price has tested the support range of 54850-54150 multiple times when falling, so pay attention to the accelerated decline after breaking through. If the double bottom is established, long positions must be cherished.
Long Position: Buy when the entity does not fall below the 54850-54150 range and a bottom pattern signal is given on the 5-minute or 30-minute chart.
Long Position: Buy when the entity does not fall below the 56500-56900 range and a bottom pattern signal is given on the 5-minute or 30-minute chart.
Short Position: Sell when the entity does not break through the 59700-58800 range on a rebound and a top pattern signal is given on the 5-minute or 30-minute chart.
Key Focus: The price testing the support range of 54850-54150 on the downside.
Personal View: BTC has given the second test of the low point at a faster speed, which was within expectations. In yesterday's market analysis, we mentioned that the second test of the low point would come faster than expected. Currently, the second test has not been broken, and our long positions are all profitable. As for whether to take short positions in the later rebound, I am personally in a wait-and-see state. Yesterday, we mentioned that I don't think BTC has dropped enough. However, after the short-term bottom pattern is formed, the price may fluctuate between 53000 and 60000 for a long time. If it fails to break through the 60000 mark and the bottom pattern is not good, I will consider continuing to lay out short positions and look downward. The recent market fluctuates quickly, so everyone should control their positions and avoid heavy positions.
ETH
Yesterday's Review: As expected, the price tested the 2800 low point for the second time, and all the long positions we suggested have entered the market and are profitable.
Recent Focus: The upper range is 3120-3170, with a mid-range focus on 2960-2980, and the lower range is 2920-2860.
Structural Form: The chart shows that the second pre-low was not broken, forming a double bottom pattern, and the yellow slope line was broken.
Points to Note: The price rebound tests the top range of 3120-3170 and the mid-range of 2960-2980, and touches the support range of 2920-2860 on the downside. Also, pay attention to the accelerated market when the yellow slope line is broken during the rebound.
Trading Ideas:
Short Position: Sell when the rebound entity does not break through the 3080-3100 range, and a top pattern signal is given on the 5-minute or 30-minute chart.
Short Position: Sell when the rebound entity does not break through the 2960-2980 range, and a top pattern signal is given on the 5-minute or 30-minute chart.
Long Position: Buy when the entity does not fall below the 2860-2820 range and a bottom pattern signal appears on the 5-minute or 30-minute chart.
Key Focus: Whether the support range of 2920-2860 is effective.
Personal View: After ETH's second test of the pre-low without breaking, it had a strong rebound. It is important to pay attention to whether the bottom pattern is established in the near future and to be aware of the back and forth trading situation. Currently, it seems that there is no problem with laying out long positions after the second test of the pre-low. In yesterday's market analysis, we have been saying to lay out long positions after the second test. The faster the market fluctuates, the more attention should be paid to position management and avoiding heavy positions.
The analysis strategy is time-sensitive, and the specific guidance is subject to real-time instructions on the official account!
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