The current market presents four short trading opportunities and one long opportunity, indicating a mixed state. This analysis is not intended as trading advice, and participants are encouraged to make their own decisions based on personal judgment.
Bitcoin has shown potential for a bullish rally towards $140K, depending on holding key support levels. The market appears to be transitioning between bullish and bearish sentiments, requiring careful observation before entering trades. Key levels to watch include $98K for potential breakdowns and confirmations.
Ethereum is also experiencing uncertainty with a potential range-bound movement. Key resistance is noted at $6,000, but current price actions show a lack of impulsive moves, indicating caution for traders.
The analysis indicates significant decay in the quality of altcoin charts. Positions in altcoins are largely flat, with evaluations on specific coins, including Solana and ADA, noting bearish trends.
The importance of mindfulness in trading is emphasized, encouraging traders to reflect on their emotional states and decision-making processes rather than acting rashly in volatile markets.
Overall, the current market phase requires patience and observation. Traders are advised to look for corrective rallies and potential entry points while maintaining risk management measures.
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