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A new week, a fresh start. Good morning everyone.
After the market fell below 80k, the daily chart trend has been continuously declining, and the current market has not been able to rebound effectively, remaining in a downward state.
The market has entered a panic mode again, with the current panic index at 27. Therefore, in the short term, it is crucial to focus on where the market will bottom out before reversing.
The same applies to most altcoins. I believe the main reason for the market correction is influenced more by US-Iran news.
Additionally, in the daily chart structure, the short-term upward trend has been broken, accelerating the downward movement.
In the weekly chart of BTC, the market has already entered a range-bound consolidation, so this week, the overall market will fluctuate between 73,000 and 80,000, mainly bearish.
ETH has been relatively weak recently, remaining in a cyclical consolidation phase.
When the market rises, ETH has not kept up or led the rally; when the market falls, ETH's correction is more pronounced.
This week, ETH will fluctuate between 1950 and 2250.
SOL's daily chart shows a formation of an inverted V-shape, while the weekly chart remains mainly in a range-bound consolidation.
This week, SOL's overall fluctuation range is approximately 77-89.
Switching ETH and SOL to the monthly chart makes it clearer that they are in consolidation.
In the past five trading days, ETF institutions have net outflows of about $345 million, indicating that institutional funds are short-term building positions for risk aversion.
The outflow of institutional funds also impacts the market and is one of the factors to watch closely.
We need to continue monitoring the subsequent movement of institutional funds.
Today, BTC support is around 75,000, ETH support is around 2,050, and SOL support is around 82.
Today’s contract strategies:
BTC: Short at 77,500 or on rallies, take profit at 75,000
ETH: Short at 2,130 or on rallies, take profit at 2,060
SOL: Short at 85.5 or on rallies, take profit at 82.5
Warm tips:
1. Stop-loss suggestions should be set based on your actual liquidation price and your risk tolerance.
2. Don’t be greedy; lock in profits when possible. It’s better to take small losses than to hold against the trend.
If the direction is correct, continue holding.
$BTC $ETH $SOL