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/BV1DuyUYTEcX/
First, let’s review the thoughts on Ethereum shared in the article and video published by the King yesterday. The resistance level given is around 2565, where one can choose to enter a short position. Yesterday, there was an opportunity for a direct pullback. The support level provided is around 2450, with today’s low at around 2460, which was very close. Currently, the short position is still making profits, and congratulations to the coin friends who followed yesterday's strategy.
Many friends have asked the King which stage the cryptocurrency market is currently in on a larger cycle. I have been saying it is the early stage of a bull market. I have summarized 8 reasons, and today I will share 4 of them, with the next article covering the remaining 4. Those interested can continue to follow. The reasons I firmly predict the bull market has started are as follows:
Time Factor: Bitcoin has been in a sideways trend for 7 months, which is rare in history. Typically, such a long period of consolidation accumulates momentum before a clear direction emerges. Moreover, we have now entered Q4, the last quarter of the financial market, which usually performs strongly.
Global Liquidity Easing: Global liquidity is gradually easing, and the overall liquidity trend is steadily improving.
Miner Index Signals: The miner index has shown a second blue label signal, which historically has a high accuracy rate.
Changes in Holder Behavior: Long-term holders are starting to sell, while short-term holders are increasing their positions. Historically, such turning points usually mark the beginning of a bull market, and when the two lines cross, it indicates the peak of the bull market.
These factors make me more confident that the bull market has started.
Now let’s take a look at Bitcoin's specific movements. From the daily chart, after a long lower shadow bearish candle two days ago, yesterday we saw a solid bullish candle, indicating that the bullish momentum is still quite strong. However, after Bitcoin broke above 68000 yesterday, it failed to continue the upward attack on the previous high, which also indicates a lack of funds in the current market. Today, we can plan our entry around yesterday's high.
For today’s short-term trading strategy, the King suggests:
Bearish Strategy: If it reaches around 68400, you can directly enter a short position. If it breaks below 66500, you can chase the short and look for 65200. If there is an unexpected stop loss, you can re-enter a short position around 69500, with a stop loss above 70000.
Bullish Strategy: If it drops to around 66500, you can enter a long position with half of your normal position size, with a 200-point stop loss. The second entry position can be around 65200 for a long, with a 300-point stop loss.
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, after three consecutive bearish candles, yesterday we saw a small bullish doji, combined with the pin bar from the day before, indicating that the market is supported in the short term. However, the absence of a solid bullish candle yesterday also shows that the bullish energy for Ethereum is still lacking. When it reaches high levels, one can consider shorting, focusing on range trading. Regarding entry positions, the King suggests:
Bearish: If it reaches around 2565, you can enter a short position with a 30-point stop loss and a target to reduce positions by 100 points.
Bullish: If it drops to around 2450, you can enter a long position for the first time, with half of your normal position size, and a 15-point stop loss. The second entry position can be around 2380 for a normal entry.
This article is independently written by the Coin Victory Group. Friends who need current price strategies and solutions for stuck positions can find the Coin Victory Group online. Recently, the market has been mainly characterized by fluctuations, accompanied by intermittent pin bars. Therefore, when trading, 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. Those interested in watching can find the Coin Victory Group online and contact me for the link.
We mainly 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 for short-term swings, medium to long-term trend trades, daily extreme pullbacks, weekly K-top predictions, and monthly head predictions.
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