Five years of experience in the cryptocurrency market, three years of contracts, daily market strategy analysis. Welcome to add me as a friend for discussion.
Hello everyone, I am Juanjuan, the top analyst of the 9:30 PM live broadcast.
Let's first review the Bitcoin market this week. Bitcoin soared to a maximum of 94,000 and then began to retrace to 94. The resistance level above was not broken twice last week. We started shorting around 94,000 and took short positions at 93,200
and 92,400. We have been shorting these positions and have also profited from it - a winning streak. In the past few days, I have reminded everyone not to chase shorts as Bitcoin is currently not favorable for shorting.
Currently, the BTC weekly chart continues to stay above the 90,000 mark, and the 4-hour K-line shows a double bottom pattern below. Then, a large bullish candlestick quickly pushed it up to 91,700. This is called a double bottom bullish candle, and we cannot short this market again as there is not much space left. Early morning
we have already shorted around 91,000 once and profited from this wave of shorts. Today, the focus should be on going long. This week, we expect to see bullish momentum, looking for Bitcoin to firmly break the 94 level and stabilize before targeting
the 96-98 area.
As for Ethereum, the market last night saw a deep spike but the rebound strength is also very strong. Ethereum has broken through 3,100 and stabilized at 3,100. The next strong resistance above is at 3,300. Ethereum's exchange rate still has a chance for a rebound. If Ethereum starts to strengthen, you can try to go long for short trades. If the rebound breaks through 3,300, there is a chance to see the 3,400-3,500 range!
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ETH has formed a relatively complete and proportionate Gartley harmonic reversal structure on the 1-hour timeframe, and the current price is near the potential reversal zone (PRZ) at point D. From a structural perspective, the ratio between XA and AB, as well as BC and CD, is quite high, indicating strong validity of this harmonic pattern. Although the overall market transaction volume is low over the weekend and active funds have not significantly entered, a certain degree of low-level support and weak volume stop-loss signals can still be observed in the D point area, showing a technical rebound willingness from short-term bulls. If subsequent transaction volume slightly increases and the price further stabilizes at the upper edge of the PRZ zone, a structural pullback trend may emerge. Therefore, at this stage, it is essential to maintain a high level of attention to the rebound risk (i.e., reverse fluctuations caused by short covering), and short-term operations should avoid blindly chasing shorts, instead observing key position retracement confirmations and changes in volume before responding.
The scale of U.S. money market funds has first surpassed 8 trillion dollars, which indicates that investment institutions and individuals are putting more money into safe-haven assets rather than risk markets. This data, from the current perspective, is indeed not a good sign, as it effectively reduces market liquidity.
However, from another perspective, when the Federal Reserve continues to maintain an accommodative stance and the SLR is canceled, this portion of funds will be forced to leave money market funds and enter risk markets, which will then bring very strong liquidity.
Angry spray! The cryptocurrency circle is completely frozen this time, the collapse is hopeless!\n\nStop deceiving yourself! This wave in the cryptocurrency circle is not a correction at all, it is a direct plunge into hell! A single word from Trump has turned the Federal Reserve's personnel upside down, policy uncertainty is at an all-time high, and the already fragile market confidence has been crushed to dust. Bitcoin has taken the lead in a sharp decline, and the entire network has seen liquidations with blood flowing like a river; where is there any sign of a rebound?\n\nThe high-leverage bubble should have burst long ago! Speculators who crazily increased leverage to bet on rising prices are now being rubbed to the ground, and the forced liquidations have smashed prices to the bottom without any margin for buffer. Institutional funds are fleeing faster than rabbits, ETF funds are flowing out frantically, and no one dares to catch the falling knife. Liquidity is completely dried up; what else can this market be but doomed?\n\nThe regulatory knife still hangs overhead, and the world is tightening control. Now, with the earthquake in the Federal Reserve's personnel, every piece of news is a fatal blow. Those still fantasizing about bottom-fishing, wake up! This collapse is like a domino effect, and the cryptocurrency circle is completely finished, leaving nothing but endless declines and panic!