Yesterday's discussion was about the market's fluctuating upward trend! The unexpected surge came so swiftly! How should day traders, who are at a loss, interpret the current market situation?

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4 hours ago

BTC Daily:

  1. The price has risen to around 59000, which is the 50% retracement level of the upward move from 52550 to 66500, and has surged to the previous high near 66500! It has now entered the important resistance zone of 66500-70000! Pay attention to the price reaction here! Do not chase the highs!

  2. After hunting at 66500, a large number of short stop-loss orders will be closed, and there is a probability of price retracement! First, watch the two gaps at 64500 and 62800-62000!

  3. If the price stands above 66500, then there is a chance to continue pushing up to 68400-70000!

BTC 1 Hour:

The condition for shorting on H1 is if 65460 is broken, causing structural damage! A rebound in the 66000-66500 area can be a short opportunity! If it does not break below here, do not short easily, as there is still a probability of testing the upper daily resistance zone!

ETH Daily:

  1. The price is still oscillating in the range of 2100-2800! It is currently about to test the upper edge of the range!

  2. If it can hold above 2680-2730, there is a chance to push up to 2800!

  3. If 2680-2730 is rejected, then a pullback to 2550-2500 presents a buying opportunity for accumulation!

ETH 1 Hour:

If the price breaks below 2615, causing structural damage, a rebound to 2620-2650 will provide shorting conditions! Currently, pay attention to whether 2615 is effectively broken! Otherwise, the price still has a probability of continuing to push up to 2680-2730!

The information and data involved in this content are sourced from publicly available materials, striving for accuracy and reliability, but no guarantee is made regarding the accuracy and completeness of the information. The content does not constitute any investment advice, and any investment based on it is at your own risk!

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