Do not worry about having no friends on the road ahead; there are kindred spirits on the path of investment. Good afternoon everyone! I am the Coin King of Coin Victory Group. Thank you all for coming here to watch the articles and videos of the King. I bring you different news from the cryptocurrency circle and precise market analysis every day. After a high-level sideways movement last week, the market has experienced a pullback. In the video updated on Friday, the King provided a very clear strategy, which is to focus on the position of 79000. As long as the hourly chart breaks below this position, the market will inevitably see a decline starting with 76. This position gave the opportunity to take profits for the first time in the early hours of Saturday. After a slow rising market on Sunday, today Bitcoin has provided another opportunity, piercing below 77000 again at 7 AM this morning. This strategy has been effective twice at this position, with a cumulative profit of around 3000 points, which is considered quite good in the current market.
Now that we have bragged a bit, let’s take a look at the specific chart. Currently, Bitcoin’s daily chart shows that yesterday's candlestick clearly marked the short-term high and bottom. Personally, I think the possibility of a strong breakout today is not too high; the breakout should occur in the latter half of the night over the next couple of days. The indicators in the supplementary chart show a bearish trend, with MACD's bullish momentum basically having diminished. KDJ has crossed into a death cross, and there are currently no signs of convergence. Now let’s look for specific entry points on the hourly chart. The support level around 76800 has tested the bottom three times. If it reaches this position today, it’s still worth attempting to enter, but remember to set a good stop-loss. If it breaks below 76000, you must exit completely. Then, focus on the range of 79200-79500 above. If this range is reached, you can opportunistically enter a short position, targeting a reduction towards 77500 with a stop-loss set above 79800. A small stop-loss to seek large profits is still worth trying. If you have a conservative position, you can set the stop-loss at 80500, reducing risk and making it less likely to be swept by a spike.
Now, let’s take a look at Ethereum. In terms of its decline, it is stronger than Bitcoin. I have mentioned before that during a slow decline, Ethereum tends to be less volatile than Bitcoin. However, during a true waterfall decline, Ethereum will certainly drop more significantly than Bitcoin. Today, the setup for Ethereum is not as easy to identify compared to Bitcoin. Personally, I suggest focusing on just one position in the short term, which is around 2460. If it reaches this, you can take a light short position, with a stop-loss set around 25 points. Take a shot at a one-sided waterfall move, looking for a reduction towards 2380. The only position where a long entry can be attempted is at this level to reverse into a long position, aiming for near 2450. I do not recommend trying other positions today.
That’s it for today. Remember the hot spots, fully grasp the trading essentials, and keep a close eye on key points in the market. We’ll continue to earn next time! This content is exclusively planned by Coin Victory Group. Search for "Coin Victory Group" on WeChat public account; it’s the same name across the internet! If you want to understand real-time strategies, unbinding techniques, or learn K-line and contract methods, you can chat with Coin Victory Group. There are still fan experience groups and community live broadcasts for free, all full of practical information, no fluff! Let’s keep an eye on the meeting together on Thursday morning; we can chat anytime if there’s any news. If you find this useful, please like and follow to avoid getting lost! If you find this useful, please like and follow to avoid getting lost!
Lastly, I want to say something from the bottom of my heart: If you truly want to learn from a blogger, you need to follow them long-term; don’t just make hasty conclusions after watching a few market movements! There are too many "performative players" in this market, showing off screenshots of their long positions today, summarizing their short positions tomorrow, making it look like they are "catching tops and bottoms" all the time, but in reality, it’s all hindsight commentary! What’s truly worth paying attention to is consistent trading logic that can withstand scrutiny, not just jumping in when the market moves! Don’t be blinded by exaggerated data and out-of-context screenshots; long-term observation and deep understanding are necessary to distinguish who are true knowledgeable thinkers and who are just dream weavers!
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