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/BV1Dj2dYaEfU/
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 near 64700 with a stop loss of 300 points. After an unexpected stop loss, he recommended entering another short position near 66450. After reaching 64700, the market broke down and hit the stop loss of 300 points, then surged directly to 66550, providing an opportunity to enter at 66450. Subsequently, it retraced to a low of 65200, yielding a profit of over 1000 points. Congratulations to those who followed along. For Ethereum, the King suggested entering a short position at 2540 with a stop loss of 30 points. After an unexpected stop loss, he recommended entering another short at 2650. The short position at 2540 was stopped out, but after entering at 2650, the market dropped to a low of 2590, resulting in a modest profit of around 30 points. At least it was profitable, so let’s keep up the effort, and congratulations to those who followed along.
Next, I would like to analyze from the market perspective why Bitcoin has experienced a breakout rally this time. The King has summarized four reasons:
Positive signals from the central bank; the governor's speech boosted market confidence, especially in monetary policy, leading to capital inflow into the crypto market during the Asian and European trading sessions. Market sentiment was affected, restoring investment confidence. A typical example is that many old friends who haven’t traded in years have come back to find the King.
Significant inflow of ETF funds; such large amounts of capital entering the market often indicate participation from large institutional investors, whose entry will inevitably drive up coin prices.
Currently, the technical support levels are strong, with 61700-62300 forming a buying effect. Influenced by current market sentiment, this support is continuously strengthening.
International geopolitical and economic uncertainties have led investors to view Bitcoin as a reliable safe-haven asset. Coupled with expectations of potentially further easing monetary policies in the future, some professional investors are switching their investment varieties, and the crypto market is a good choice at present.
Now let’s take a look at Bitcoin’s specific movements. From the daily chart, yesterday’s long bullish candlestick left a significant technical gap, which is why we saw a pullback in the morning. From my perspective, I personally feel that the market will not quickly turn bullish; there will still be pullbacks and consolidations in the future because many institutions have not yet entered the market. The market needs to onboard these participants before it can start moving. Currently, from the hourly chart, the resistance at 66500 is still quite strong, so it is worth considering entering short. The short-term resistance at 65800 is also present, and aggressive traders can try with half of their normal position. For those who can short at the morning low of 65200, a very small position can be attempted with a stop loss of 150 points. The real strong support level below is at 64600, where a normal long position can be taken with a 300-point stop loss. If it breaks and hits the stop loss, one can directly enter short, targeting 62300. This is the strategy for Bitcoin today. If any friends are stuck in 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 Ethereum’s market. First, looking at the daily chart, it is very similar to Bitcoin, with strong resistance above, making a significant breakout unlikely. Therefore, entering short near today’s high of 2650 is not a big issue. However, I feel that the pullback in Ethereum this morning was relatively small; 2590 is not a strong support level. If you want to go long, you still need to wait near 2550, with a stop loss of 25 points. If it unexpectedly breaks that stop loss, you can enter short and target 2430. The overall volatility at the beginning of this month has been relatively large. In response to this month’s volatility, we will conduct live broadcasts on 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 room.
This article is independently written by the Coin Victory Group. Friends in need of current price strategies and solutions can find the Coin Victory Group online. Recently, the market has been mainly characterized by fluctuations, accompanied by intermittent spikes. Therefore, 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.
Mainly focused on spot, contracts, 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 highs and lows, medium to long-term trend trades, daily extreme pullbacks, weekly K-top predictions, and monthly head predictions.
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