The upper consolidation channel appears to be a box pattern breakdown. Although a long lower wick bullish candle has formed and the trading volume is huge, I personally believe this is just encountering strong resistance from the bulls and does not indicate a clear reversal. The larger trend is likely difficult to change in the short term;
According to the 1:1 symmetry from the upper breakdown, it is around 51, which also coincides with a previous small parallel bottom, so this is a reasonable target for the next phase of the bearish trend;
$BTC Is Bitcoin currently in a bullish trend or a bearish trend? Let's take a look at the situation purely from a technical indicator perspective;
The volume chart shows an extremely bearish state, and the liquidity heat map indicates that there are a large number of bearish fortifications around 70k and 73k, while the volume of the rebound is also continuously shrinking;
If there is no larger force intervening, then all current rebounds can be seen as for a better decline;
$RIVER river The reason it's hard to do is that it seems to have an independent market.
Every time there's a big market rise, it falls, and when everyone is crashing, it remains strong. After the parallel bottom liquidity is taken out, it should rise quickly, but it's sluggishly being suppressed at the POC, and there's no volume to reflect it;
The trend line shows that it is currently under temporary pressure, and it is close to the 0.618 level. The liquidity distribution chart also indicates that there are a large number of sell orders around 72k, and some selling pressure has already appeared around 70k. It is uncertain whether this is profit-taking from bulls at the bottom or pressure from bears;
The only good news is that the funding rate seems to still be negative, indicating there is still momentum to break upwards against the bears;
Personally, I still lean towards a bearish outlook, so good luck~ #BTC #加密市场反弹 #何时抄底?
You can see that 0.618 perfectly coincides with a parallel top here. After a false breakout, it fell back significantly. If there isn't a stronger force to pull the price up, bulls should be cautious. The bearish target should be the parallel bottom below.
You can try to short with a stop loss based on the previous high.
The volume distribution shows that there is still a large amount of liquidity around 1650, and the price first approached this area and paused before moving up. It is normal to have support in this area, but after a rebound, it is likely that it is just to accumulate strength before another drop. Therefore, if ETH attempts to open a position, it should be a short-term long followed by a continued short. At least, all the liquidity here should be cleared before considering the bottoming out issue!
$RIVER river market update, currently, the priority should be to look for more opportunities to go long.
The diagonal channel we previously considered has already broken and become ineffective, so attention should be focused on the horizontal position. On the 1H level, CVD is down, but the volume has already exhausted, indicating it is in a quiet battlefield after the battle between bulls and bears, with only scattered dissipations and minor friction from small positions. We need to wait for new bullish or bearish funds to enter before there will be a clear direction for the next step;
However, after just experiencing a significant drop, theoretically, the trial and error cost for bulls will be lower. There is a clear parallel bottom around 11.8. If the price breaks below here and then stands back above 11.8, it may be worth trying to go long;
Similarly, there is a parallel bottom here, and there should be liquidity below, theoretically allowing for a bearish position.
River seems to be consolidating at the bottom of an ascending channel, with declining volume on the downside. If the bears do not continue to increase their volume, we may see a rebound from the bulls.
You can try going long at the bottom of the channel + box, using the bottom from yesterday morning's spike as a stop-loss, which still presents a relatively good risk-reward attempt.
BNB has made a straightforward breakdown after a triangular consolidation. If it can retrace back to the triangle, one can look for shorting opportunities. The volume distribution shows a large number of order blocks accumulated near VAL, so the shorting opportunity can be placed here. If the price retraces here, one can try to short around 745-748~
$RIVER Currently attacking the front fortress of the Air Force, temporarily sufficient capacity, ample ammunition, expected to continue the offensive~ #币安跟单 #带单大神