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6.16 Morning Aunt Tai Pan🍜 Poetry Viewpoint
Rallying higher with a recovery does not change the bullish trend, precise support and resistance levels are released!
The trend is fully linked to BTC, with a low point of 1653 initiating a one-way upward move, reaching a high of 1848; as it surged higher, selling pressure emerged, with two consecutive 4-hour bearish candles retracing, now at 1789.64.
MACD shows the same weakening trend as Bitcoin, with the red histogram rapidly shrinking, indicating a short-term correction and adjustment, and the upward structure remains intact.
Support levels: 1720, 1760 (strong support)
Resistance levels: 1800-1820, 1848
Trading suggestions:
1. Buy on dips at 1760-1720 in batches, with a stop loss below 1700, target 1810→1848;
2. Lightly short on rebounds at 1800-1820, stop loss at 1850, target 1770-1760, exit with profit when reached;
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