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Trading is never a rigid long or short!
Is the market now turning bullish? I can say with certainty that it is not. Why go long? Just like a chick pecking at rice, it should pick the bigger grains first, right? After a significant correction, the liquidity of the bulls has been cleared out. The technical indicators are showing that a short-term rebound is likely, so there is more room for short-term trading on the long side!
Currently, the long position is left with only the base position. For Bitcoin to turn bullish, it must close above 1055 for at least four hours to gain momentum. If it continues to pull back and breaks below the 9888 level, the market will then see a drop to 9300. Before that, there will likely be a small-level rebound!
Today, the long positions for BTC/ETH have reached the first target. Bitcoin currently has a space of 1700 points, while Ethereum has 90 points. This evening, we will observe the strength of the pullback. If Bitcoin pulls back but does not fall below 1014, and Ethereum pulls back but does not break 3290, the market shows a small-scale bullish trend. We will assess the situation before making further bets!
The rational analysis of market trends, following the guidance of the heart, analyzing the technical structure of the market, and establishing correct trading methods! #BTC #ETH