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 the brothers who have been following the King will return.
**Click the link to watch the video: **https://www.bilibili.com/video/BV1spm5Y3Ef7/
First, let's review the King’s views on the market from the article and video released yesterday. For Bitcoin, the King suggested entering a short position around 63200. There was an opportunity to enter yesterday, with a minimum drop to around 62000, yielding a profit of over 1000 points. Following that, there was a second rally, and the second entry point for a short position was around 64300, with a stop loss of 200 points when the market broke the 63200 level. The King notified to reduce the short position around 63800 as the market retraced in the morning. Overall, the profit from Bitcoin's strategy exceeded 1000 points, which is quite decent. For Ethereum, the King suggested shorting around 2480. There were two entry opportunities last night and early this morning, both of which saw some retracement, yielding profits of around 40 points. In the morning, the market hit the stop loss, but then reached the second short position suggested by the King around 2535, which is currently also profitable, with a total profit from Ethereum exceeding 60 points.
Next, let's analyze why the market experienced a rapid surge today. After analyzing the information available in the market, the King concluded that the remarks made by our central bank's governor on Saturday night provided significant confidence to the market. The flow of money in the market has clearly started to move. The flow of money has a transmission effect; when the east lights up, the west will naturally respond with corresponding stimulus policies. Everyone knows that there is only so much food in the pot; if others eat, there will be less for oneself. Therefore, we can see that several ETFs have seen significant inflows. If we calculate the cost, the cost of this new influx of funds is between 61700-62300, which has formed a support level for the short term, and the market has been rebounding from this level since last night.
Now, let's take a look at the specific movements of Bitcoin. As usual, let's first open the daily chart to see the overall direction. Currently, the daily chart has shown two consecutive bullish candles, followed by a bearish candle with a long lower shadow yesterday. The market today is unstoppable, showing signs of a bullish reversal. The most important thing today is whether the daily chart can see a retracement in the evening. If the upper closing line can show a certain upper shadow, then the bears still have hope. It is estimated that there won't be significant changes in the market during the day, and the key focus will be on the evening's U.S. market. For today's entry position, we can look at the hourly chart. Currently, the price is at a short-term resistance level, and it is advisable to consider a small short position here. If this position is strongly held, the next position to grasp will only be the previous high around 66450. For the lower side, the entry position for long positions can refer to the ETF entry position we provided at 61700-62300. Personally, I suggest entering long around 62000, with a stop loss set below 61700. If there are friends with open positions, feel free to reach out to the Coin Victory Group, and I will help you resolve the issues.
Now, let's take a look at the Ethereum market. First, let's check the daily chart for Ethereum. The daily chart has shown three consecutive bullish candles, followed by a bearish candle with a lower shadow yesterday. From the current trend, it is highly likely to close bullish today. The short-term resistance level to watch is around 2540, which is currently the only resistance above. If this position is held, the upper resistance will move to around 2650. The current support level can be seen around 2450, where a small long position can be considered; other positions are not recommended for entry. Because the market's volatility at the beginning of this month has been relatively large, we will conduct live broadcasts of the market from Monday to Friday at 8:30 PM. Friends in need can find the Coin Victory Group online, and I will send you the link to the live broadcast.
This article is independently written by the Coin Victory Group. Friends in need of current strategies and solutions for open positions can find the Coin Victory Group online. Recently, the market has been mainly fluctuating, accompanied by intermittent spikes, so when making trades, please remember to control your take profit and stop loss. In the future, when facing significant market data, the Coin Victory Group will also organize live broadcasts across the internet. Friends who wish to watch can find the Coin Victory Group online and contact me for the link.
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We focus 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.
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