BTC update: After yesterday's surge, as mentioned in the quote below, the price faced significant resistance and saw a notable pullback after reaching the upper boundary of the 4-hour channel.
Currently, attention should be focused on the specific price behavior within the channel, especially at the midline, lower boundary of the 4-hour downtrend channel, and the lower boundary of the daily channel.
This will help in formulating a reasonable trading plan. From the current perspective, the idea of entering long positions still revolves around the rebound strategy, meaning that Bitcoin is still in a top formation price fluctuation, and the likelihood of the downtrend extending is still greater than that of an uptrend.
Cautiously engaging in rebound speculation is considered a reasonable strategy.
Yesterday, I took profits on the BTC I bought at the bottom and shared it in the teaching group. However, the teaching group mainly focuses on education; aside from sharing tweet insights, other trading strategy details will occasionally be shared, with the aim of guiding everyone to learn the structure of formations more thoroughly.
Let's talk specifically about the current trend of BTC.
As shown in the chart and mentioned in the quote, after the price touched the lower edge of the daily channel, it rebounded. During the rebound, it faced resistance at the 4-hour level neckline of 112.2K.
However, it has broken through in the afternoon, and the current core resistance is at the upper edge of the 4-hour descending channel marked by the red circle in the chart, just a step away from the channel's upper edge at 113.4K.
In terms of trading strategy, we need to pay close attention to the price action in this area and whether there will be a significant candlestick pattern at the key levels.
For those who followed me to buy at the bottom, just hold your positions and patiently observe the changes in this area before making any decisions.
For those still wanting to get involved in the rebound, you can enter after a breakout in this area and a subsequent pullback, while also paying attention to whether a small-scale accumulation pattern can form at the upper edge, which would also serve as a basis for entering the rebound.
As for SOL and ETH, I have already made it clear what needs to be said. Currently, SOL is also in a bearish wedge at the top structure, while ETH is in a state of failure at the monthly level neckline after three attempts, so the risk for SE is extremely high.
To put it bluntly, if BTC breaks below the lower edge of the daily channel, SE may face a significant drop.
In the future, all shares will prioritize the community's egg yolk teaching group, and then be shared on Twitter at irregular intervals. More details will also be prioritized for the community teaching group. I just want to see if I can cultivate a group of qualified traders to expand a larger territory in the future.
Teaching someone to fish is better than giving them fish, but free help will only aid greed and exhaust one's spirit, and there will always be all kinds of trash people.~
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