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After the ups and downs of the market, everyone has realized the importance of stop-loss. Making money is a habit, losing money is also a habit. Experience is valuable, and only principles are priceless. What we need to do is eliminate our bad trading habits. The overall intraday market showed a recovery trend in the morning and broke through the previous 90,000 resistance level. Throughout the day, it continued to fluctuate downward, falling from the midday high of 90,373 to the evening low of 86,760. The intraday pattern was a rise followed by a fall, with a space of over 6,000 points between the highs and lows. Overall, it was a shakeout market. Ethereum's movement was similar to Bitcoin, rising in the morning and falling in the evening, dropping from a high of 3,056 to a low of 2,908. Currently, in the early morning, it is undergoing a small-scale rebound. The morning analysis predicted targets around 90,500 and 3,050, which were perfectly hit. Bitcoin gained over 2,000 points following the trend, while Ethereum gained over 100 points. In the evening, the trend continued with short positions, with Bitcoin gaining another 1,600 points and Ethereum over 60 points. The overall strategy provided was quite accurate; almost all the publicly shared ideas were fulfilled. A new day begins, and we should continue to follow the trend.
From a technical perspective, the short-term has officially entered a correction phase. The main reason is that the breakout on the weekly chart, which involved increased volume, has created significant room for movement. After releasing the momentum, no correction phase has yet occurred, so a correction for a period is normal. The daily chart still shows consecutive bullish candles, indicating a pause rather than a reversal. The overall trend remains bullish, but it may enter a few days of consolidation. During small cycles, retracements are not showing clear rebounds, and support levels have not yet been confirmed. There is still room below. Both bulls and bears can participate in the correction and consolidation phase, but it’s best to follow the trend and buy on dips. The plan is to buy on dips in the early morning, then decide based on the strength at midday.
In the early hours of Tuesday, the price retraced to around 87,500-87,300, with a target near 90,000. For Ethereum, focus on buying in the 2,920-2,900 range, with a target around 3,030.