Today is Saturday, April 19th, and it's another weekend market. From the perspective of the daily chart, we have been in a consolidation for over a week now, currently oscillating between 86,000 and 83,000. This is at the daily level.
Now looking at the smaller time frames, we are currently seeing a rebound trend.
Here we see the rebound range of 85,500-86,100, with our support level below at 84,300, which has held. Below that is 83,100.
The two support levels of 84,300 and 83,100 are facing the two resistance levels above at 85,500-86,100, so currently the entire market is in this range of oscillation.
Ethereum is in a similar position, following the rhythm of the market. Currently, the resistance for Ethereum is at 1,614-1,630, with support below at 1,590-1,585.
The overall liquidity has been very slow these past few days, and the pace is quite sluggish, so we can only buy low and sell high. There’s no need to overthink short-term trades.
Many partners are asking if it's a good time to buy the dip in the spot market. Currently, it is not the right time to buy the dip; patience is required. The overall direction is still not very clear. The spot market also does not have significant gains. Therefore, it is essential to wait until the market stabilizes.
Additionally, when individual stocks show bottoming patterns, then it would be time to enter. Currently, the market is still not stable and remains in a consolidation range.
Individual stocks have not yet shown clear bottoming patterns, so there is no need to rush into buying the dip.
If you are unsure about the timing, you can follow the public account: KK Strategy
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