Those who can buy are apprentices, those who can sell are masters, and those who understand how to hold cash are the ancestors! In trend swing strategies, the choice of entry points is secondary, while the choice of exit points is key. However, good capital management is the soul of trend swing trading.

Hello everyone, I am trader Gege. Following up on the previous article, I mentioned that friends who entered the market at the 123,000 line for Bitcoin are currently seeing a low point of over 6,000 USD. Those who followed along have achieved a good result. Currently, after this wave of pullback adjustment, in terms of rebound strength, it seems that Ethereum is showing signs of a catch-up rally, provided that Bitcoin does not experience a significant pullback but instead undergoes small fluctuations.

In previous articles, whether in terms of expectations or trends, we have discussed a lot. Today, I will provide a brief update. Let’s talk about Ethereum first, as I seem to see hope for a catch-up rally. Of course, I have already mentioned the prerequisite: Ethereum needs to stabilize above 3,050. I explained the reason two days ago, which is the 61.8% level of the large-scale Fibonacci retracement. Let’s observe this closely. The reason I say “seems” is that the expectations for Ethereum in this cycle have been too high, repeatedly hoping it would take the lead, but the results have not been very fulfilling, so this time is also uncertain.

However, I still hold some hope for it. If the above conditions are met, we can look step by step at (3,350, 3,430, or even 3,520). Otherwise, in the short term, it will still be in a phase of fluctuating adjustments. If the market pulls back to the 2,930 line and finds support to rebound, then we should continue to pay attention to the support above 2,900 (2,980-2,950 line).

Bitcoin's daily level has pulled back to the MA7 and found support, so we can temporarily focus on this line, while also paying attention to the closing situation of the candlesticks. In the short term, the support area is between 116,500-115,500. If it breaks below, we need to pay attention to the previous top-bottom conversion area between 113,000-112,000. The short-term resistance above is between 119,500-120,500.

The suggestions are for reference only. Please manage your risk when entering the market, and control your profit and stop-loss space accordingly. Specific strategies should be consulted in real-time.

Alright, friends, we will say goodbye until next time. I wish everyone continued success and smooth sailing in the crypto world! More real-time suggestions will be sent internally. Today's brief update ends here. For more real-time suggestions on Bitcoin and Ethereum, find Gege.

Written by / I am trader Gege, a friend willing to accompany you in making a comeback.

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