Hello everyone, I am the familiar 'Crypto Xiangyang'. I share the latest cryptocurrency market trends and my trading perspectives with everyone in the form of text or video every day
Hello everyone, I am the familiar 'Crypto Xiangyang'. I share the latest cryptocurrency market trends and my trading perspectives with everyone in the form of text or video every day. I am a professional investor who summarizes and shares experiences and insights from the cryptocurrency market. I have been closely following the development of the market, constantly pursuing self-improvement, and striving to stand out in the market.
Yesterday, I conducted a short order transaction and conducted a 1.5% position operation on two different cryptocurrencies, with a total position of 3%. The specific operational suggestions are as follows: Firstly, Ethereum (ETH). I suggest short selling at a price level of 1795, with a stop loss price of 1850 and a stop gain target of around 1700. A position control of 1.5% is sufficient. Next is Bitcoin (BTC), and I suggest starting a short selling operation when the price of the pancake approaches 34400, setting a stop loss price of 35000 and a stop gain target of around 33500. Similarly, a position control of 1.5% is sufficient.
The daily chart shows that after a series of K-line consolidation and accumulation, the market has made multiple attempts to break through the key level of 34800, but ultimately fell back. At the same time, the moving average indicator also shows a downward trend of turning, which needs to be paid attention to. The K-line structure fluctuates between one negative and one positive, indicating that the market is in fierce competition, and this fluctuating state has been ongoing for 7 days.
The following figure shows the Fibonacci retracement segment, with the highest point located near a historical high of 69000 and the lowest point located near 15440. At present, the price is at the Fibonacci 0.518 level, encountering resistance levels around 36000. The actual spot market prices have not effectively broken through the highest point of around 35200. These factors all indicate that the market is facing challenges and requires close observation.
The trend of Big Brother shows a daily reversal of 13 signals, while the KDJ index fluctuates at high levels, the MACD energy column shrinks, and trading volume also shows a downward trend. In addition, the 5-day moving average shows signs of turning downward, indicating the possibility of a volatile decline at any time. From a basic technical perspective, choosing a short position seems reasonable. The support level below can refer to the 13 day moving average at 32200, while the resistance position above should be noted at 35000.
Based on the above analysis, yesterday's trading suggestion was still to maintain the previous short position, without the need for frequent trading, but it is necessary to pay attention to appropriate stop loss and stop profit settings to ensure a reasonable profit loss ratio before proceeding with trading.
Today's intraday market currency prices continue to rise, but it should be noted that there is a gap between the currency prices on the weekly chart and MA5, which has not been resolved yet. Therefore, I personally anticipate that once the short-term bullish upward trend ends, the currency price may continue to repair the weekly level gap.
From a technical analysis perspective, the current situation is basically consistent with the daytime situation. In the short term, the sustained bullish rise in this round can be understood as the market attempting to push up to a high point to see if there is enough pressure. It should be noted that there is a gap not only between Ethereum, but also between the Bitcoin price and MA5. Therefore, the short-term upward trend in this round, whether in terms of intensity or market intensity, is unlikely to last for a long time.
Therefore, I personally suggest not blindly pursuing long positions during short-term operations. If you have not yet entered the market to short, it is best to wait for the weekly gap repair to be completed before making a decision. At present, I continue to be bearish on the development trend of the market and hold a short position. It should be emphasized that the above views only represent personal opinions, and investments involve risks that require careful consideration.
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