Bitcoin - Ethereum fluctuate wildly, how to approach the new round of altcoins?

Institutions have become the market trendsetters. It is well known that the current mainstream performance is quite promising for the overall data. This round of altcoins has instead been thoroughly shaken out, and short-term chip distribution will be key for the future market!

Reviewing yesterday’s script shows precise bottoming in the range, with the daily support at 69,000 briefly broken and then rebound. This is also a point repeatedly emphasized: don’t have too many shorting ideas before the market opens. It’s just a matter of retracement with reduced volume, providing more entry points. As for resistance above at 71,000-71,500, it forms a selling position. The daily chart cannot sustain a full breakout, so there’s no need to hold onto past ideas.

The core point for Ethereum is that a rebound without breaking short-term support at 1980 encourages bold long entries. Similarly, the upper resistance zone at 2080-2130. Whether on small or large scales, if volume doesn’t break through, it’s better to sell. After all, it’s just a wide-range correction. The current pattern cannot present a clear bullish signal!

There’s no need for excessive analysis. Relying on lucky points or hesitation in key areas will only result in empty efforts. Whether it’s hype or hindsight, what matters is sticking to the core trading principles. In a simple market, everyone has a voice…

The daily stochastic indicator is temporarily restarting a golden cross, signaling a bullish trend. MACD lines are crossing upward, indicating a bullish zone with support at around 68,800 and resistance at 71,200. The four-hour chart shows a level resistance near 70,500, indicating sideways consolidation and a sign of support at higher levels.

Bitcoin’s intraday target at 69,000 is a 5% long position. For smaller timeframes, a rebound to 70,300-71,000 is expected. Resistance at 71,700 on the daily chart must be broken to establish a bullish trend.

Ethereum’s target at 2010 is a 5% long position. The rebound looks to 2050-2080, with strong support at 2100 and resistance at 2150 for protection.

The key to trading is not obsessing over how to beat “fear and greed,” but being aware of what changes are happening in the market.