Do not worry about having no friends on the road ahead; there are like-minded individuals on the investment journey. Good afternoon, everyone! I am the King of Coins from the Coin Victory Group. Thank you all for coming here to watch the King’s articles and videos, and I hope that the brothers who have been following the King will return.

Click the link to watch the video:https://www.bilibili.com/video/BV1HB2GYbEMJ/

First, let’s review the Bitcoin and Ethereum strategies provided in the articles and videos publicly released by the Coin Victory Group yesterday. For Bitcoin, the Coin Victory Group suggested entering a short position near 62900, with a stop loss of 300 points. A small long position could be taken at 61700, with a stop loss of 200 points. If the stop loss is hit, one should directly pursue a short position, targeting 60000. Looking at the market, we can see that after the price first hit 61700 last night, it quickly rebounded, reaching a high of around 62400. The King also advised reducing positions when the price reached 62200 in the friend circle, making a small profit of 500 points. After the price hit 61700 for the second time, it fell sharply, breaking through the lowest point of the bearish outlook, reaching a low of 60250, with profits nearing 1500 points. For Ethereum, the King directly suggested entering a short position near 2460. Last night, around 11 PM, a perfect entry opportunity was provided. The market then retraced, hitting a low of 2350. The King signaled to exit the short position around 2380, resulting in a direct profit of over 80 points. Congratulations to the friends who watched the King’s articles and videos yesterday for reaping considerable profits.

In fact, in yesterday's article, I analyzed why the market had a need for a pullback and why it has been moving within the large range of 60000-64000. This is due to the current geopolitical energy crisis, which hangs over the financial market like a sword of Damocles. Whether the Federal Reserve can achieve its goal of a 100 basis point rate cut this year remains a question mark. Therefore, we can see that both the stock market and the cryptocurrency market have experienced pullbacks. Of course, this is a good thing; only by washing out the unsteady speculators can the market move forward lightly. We must understand that for any market to rise, there must be a group of steadfast bulls who can hold onto their positions. Here, I want to reiterate the King’s understanding of this market: whether in stocks or cryptocurrencies, this market does not create wealth; it merely redistributes wealth.

Let’s take a look at Bitcoin's daily chart. After three consecutive bearish candles, the previous two days had long upper shadows, while yesterday almost closed with solid bodies. The bearish momentum is currently quite strong, so today we have reason to believe that the market will continue to close with solid bearish candles. If we want to see a smaller candle today, the price must at least reach around 60000; in an aggressive scenario, it may even break down. Therefore, in our trading process, we should primarily focus on short positions. Let’s look for entry points in the short term; the only resistance above is actually yesterday's support level around 61700, which can be chosen for short positions. Aggressive traders can enter early at 61200, targeting the lower level around 60000. The only position to consider for a long position is at 60000, where a small long position can be taken with a stop loss of 200 points; if it breaks down, just let it go. Today's Bitcoin market may be quite intense, and these are the thoughts I can provide. Additionally, there will be CPI data released tonight, and we will conduct a live broadcast; those in need can find the Coin Victory Group online.

Looking at Ethereum's daily chart, we can see that it also closed with a solid bearish candle yesterday. The bearish trend is quite clear, but its decline is weaker than that of Bitcoin. Today, the King expects a bearish candle, but with the CPI data coming out tonight, I personally believe that this week’s CPI may lead to a bullish market, possibly spiking upon release before retracing. Let’s take a look at the support and resistance levels for Ethereum in the short cycle. Currently, the short-term resistance level to watch above is at 2420, where a short position can be entered, with a stop loss of 10-15 points. Below, in the range of 2340-2330, a long position can be considered, with a stop loss of 15 points. From a technical perspective, there isn’t much to discuss about tonight’s market; the main focus is still on the CPI data, and we need to observe the data situation to flexibly update our strategies.

This article is independently written by the Coin Victory Group. Friends in need of current strategies and solutions can find the Coin Victory Group online. Recently, the market has been primarily characterized by fluctuations, accompanied by intermittent spikes. Therefore, when trading, please remember to manage your take profit and stop loss effectively. In the face of significant market data, the Coin Victory Group will also organize a live broadcast across the internet. Those interested in watching can find the Coin Victory Group online and contact me for the link later.

Mainly focused on spot and contract trading for BTC/ETH/ETC/LTC/EOS/BSV/ATOM/XRP/BCH/LINK/TRX/DOT, specializing in styles such as mobile locking strategies around high and low support and resistance, short-term swing trading, medium to long-term trend trading, daily extreme pullbacks, weekly top predictions, and monthly head predictions.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。