Master Discusses Hot Topics:

Continuing from what I mentioned yesterday, the current level of 106.6k can still be poked for a short-term trade. But don’t think it will just keep soaring; the long-term direction still lacks clear signals.

Once the price breaks above 106.6k, it’s highly likely to spike and then pull back. If the upward momentum runs out, it will be dragged back to continue oscillating. Here’s the conclusion: if you have short positions that are stuck, don’t rush to cut your losses; give Bitcoin a chance for a small new high and a false breakout.

If it really stabilizes, the accumulation of long leverage will accelerate, providing an opportunity to break even. But if it’s a false breakout, it’s simply a trap to cut you off, so be clear about the situation. If you’re stuck in long positions, don’t hold on stubbornly; while a new high is desired, there’s currently insufficient fuel. Even if a new high occurs, don’t be greedy; take the profit first and then observe.

If the false breakout doesn’t happen, look for another opportunity to enter. Once a false breakout occurs, don’t hesitate; follow up immediately on the pullback. The key point is the death line at 100800, and stop losses must be strict.

Now let’s talk about Ethereum. Recently, every new high has been followed by a slight pullback before continuing upward. Although it seems stable, this surge in Ethereum is a result of a significant drop before funds came in to pick up cheap prices; it’s not supported by any new narrative.

Currently, it has entered a densely packed area of chips, with sellers above and buyers below. The main theme going forward will likely oscillate and digest the trapped positions in the range of 2413 to 2820. I don’t expect Ethereum to soar to the sky.

In simple terms, if you want Ethereum to truly return as a king, it still relies on the entry of major US capital and a new story. Otherwise, this self-rescue rebound could change at any moment. Once market consensus emerges, funds will flood in, and it could very well be a false market that spirals out of control.

The rebound itself isn’t bad, but it requires caution. Back in April, I mentioned in an article that this wave is a small unilateral upward trend. Compared to the crazy surge in 2023, it hasn’t shown much strength in the short term.

There have been frequent false short signals, and it’s basically still within the adjustment cycle of 4 to 12 hours. The trend in the larger cycle hasn’t changed, and the likelihood of a short-term reversal is also low.

Master Looks at Trends:

Resistance Level Reference:

First Resistance Level: 104800

Second Resistance Level: 104000

Support Level Reference:

First Support Level: 102300

Second Support Level: 101600

Today's Suggestions:

Bitcoin has formed a diamond top pattern on the 4-hour chart, which is a common technical signal indicating a potential top, suggesting that the trend may turn bearish.

However, the price is still oscillating near the upper edge of the range, so there’s no need to prematurely switch to a bearish outlook. If it breaks below the support line of the range, then consider going bearish and look for a low entry point, which could serve as a new ultra-short-term entry opportunity.

The first resistance at 104k has been tested multiple times without success, confirming that there is strong pressure here. Only if it breaks through strongly and stabilizes can we expect further upward movement.

Even if the price breaks above 104K, if it cannot raise the high points, the bullish trend will still be limited. If there’s positive news around 104K along with a volume increase, the probability of refreshing the historical high will be greater.

Currently, the first support at 102.3k can be set as a key short-term support area. If it drops to this range, it can serve as a suitable entry point for risk and reward comparison in ultra-short-term trades. At present, it seems unlikely to directly drop below 100K, but rather will consolidate above 100K.

As the expectation of a decline has increased, if a pullback occurs, pay attention to the lower support as a potential entry point. If the price rebounds to 104K but lacks significant positive market conditions, it can be seen as a false breakout, and you should directly short it.

5.15 Master’s Wave Strategy:

Long Entry Reference: Not currently applicable

Short Entry Reference: Short in the range of 104000-104800 in batches. Target: 102300-101600

If you truly want to learn something from a blogger, you need to keep following them, rather than making hasty conclusions after just a few market observations. This market is filled with performers; today they show long positions, tomorrow they summarize short positions, making it seem like they "always catch the top and bottom," but in reality, it’s all hindsight. A truly worthy blogger will have a trading logic that is consistent, coherent, and withstands scrutiny, rather than jumping in only when the market moves. Don’t be blinded by flashy data and out-of-context screenshots; long-term observation and deep understanding are necessary to discern who is a thinker and who is a dreamer!

This article is exclusively planned and published by Master Chen (WeChat public account: Coin God Master Chen). If you want to learn more about real-time investment strategies, breaking even, spot trading, short, medium, and long-term contract trading techniques, operational skills, and knowledge about candlesticks, you can join Master Chen for learning and communication. A free experience group for fans has been opened, along with community live broadcasts and other quality experience projects!

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