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Currently, is it possible to buy the top? Let's wait and see.
At this stage, the overall rhythm is still moving within a wide range. Resistance is at 760 on the upside, support at 650, with a strong support at 630. Due to disruptions from the US-Iran conflict, the market trend is somewhat chaotic. Technical indicators are insufficient to drive the market normally, and external factors can interfere with the overall trend, but these are mostly loud noises with little substance.
This morning, the yellow-haired guy once again pressured Iran, which responded with 10 demands. The yellow-haired guy was unwilling to compromise, so the US-Iran conflict seems to be an endless struggle. Although many dislike the yellow-haired guy’s expression, a single word from him can cause chaos in the market.
Returning to the technical structure, on the daily chart, there was a large bullish candle, but after breaking the upper band, it did not continue. If the market moves based on technical analysis at this point, the upward space will be limited. There is some resistance at around 730. Although the indicators are bullish, the KDJ has entered the overbought zone, and there is a risk of turning downward at any time. Therefore, the overall direction should not be overly bullish at this moment.
On the four-hour chart, after a large bullish candle broke the upper band, it continued to oscillate at a high level. The short-term Bollinger Bands are rising, indicating potential further upward movement. Meanwhile, moving averages and other indicators are all bullish. In the short term, focus on resistance at 730 and 740. If these cannot be broken, consider medium- to long-term short positions.
Recommendations:
- Bitcoin around 730 and 740, staggered short entries, light positions. Add at 750, cut at 76100, with a target of 680-650.
- Ethereum around 2280 and 2350, staggered short entries, light positions. Add at 2400, cut at 2450, with a target of 2000-1900.
These are just personal opinions, for reference only!