This column focuses on sharing major mainstream cryptocurrencies such as BTC/ETH/EOS/XRP/ETC/LTC/DOGE. Follow the public account "Yanbi" to avoid getting lost and enjoy more service guidance.
During the morning surge, Bitcoin faced significant resistance at the 10.1 level.
However, considering this week is at a special turning point, the market is easily influenced by emotions, leading to large fluctuations.
Therefore, the daytime movement is considered a false break, and we will continue to monitor the 10.1 resistance level. Any point above can still be used for medium-term positioning.
But there are two key points to watch under the resistance:
If Bitcoin's price recovers back to below 10.08-10.05 before 4 PM, it will be seen as further stabilization. If it cannot effectively recover before the afternoon, we will consider exiting based on cost.
It is absolutely crucial not to break the high again during the day. If the high is broken again, there is no need to consider the actual situation; we can directly defend and sell off at a thousand-point drop, and then adjust our strategy to welcome a new high.
Friday's volatility will not be small, and we are still at a critical turning point, so there will definitely be risks. It is essential to pay attention to risk control.
The three medium-term target points remain unchanged at 9.65, 9.4, and 8.5.
As expected, Ethereum's performance weakened again in the morning. Bitcoin broke the high again during the day, and Ethereum's price struggled to stabilize above 3400.
For medium-term positioning, we will focus on the resistance at 3370-3400 during the day, and if it breaks above, we will pay attention to 3450.
In terms of the cycle strategy, we will gradually monitor 3200, 3100, and 2900 for partial exits and move our defenses accordingly.
One important point to note is that the current height is influenced by Bitcoin's movement. If Bitcoin does not fall below 10.08 before 4 PM, Ethereum should also temporarily exit.
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