Morning Share
Cryptocurrency may really be coming to an end, many coins no longer have liquidity. Recently, it's been hard to make trades; the US stock market has slightly dropped while the crypto market has significantly fallen. When the US stock market rises, the crypto market is stagnant, which simply means the sentiment isn't strong enough. But it's normal; at 88000, even the dogs shake their heads.
Brother Majia increased his ETH long position again this morning. According to past habits, it should be about to drop; at least that's how it has been before.
Yesterday's non-farm payroll data was quite dramatic, with both bearish and bullish signals, resulting in no significant one-sided market trend. This means there is space for both longs and shorts; as long as trades are made at the top and bottom of the range, there are opportunities.
Back to the market, after the BTC box breakout, the US stock market continues to operate in another box during trading hours, with basically no significant trading space.
The most comfortable long position is around 855. There are two thoughts for shorting: the first is relatively aggressive, taking a short position at 880 (following the strategy of shorting at the box high and longing at the box low), and the second is taking a short position at 893, as this is the resistance swap position. Since both belong to left-side entries, the risk is relatively high.
ETH is very weak and shows no attempt to break upward; instead, it keeps dropping. The boundaries of the ETH box consolidation are quite clear, and shorts can be taken at 2975 with tight stops; longs can be entered in batches at 2909 and 2885.
