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January 21 Market Analysis
After the market consolidated at high levels last weekend, it began to plummet rapidly early Monday morning. I have been warning during my live broadcasts that this rebound should reach around 3300. After all, in a bear market, the main trend and direction are still bearish. Long positions are suitable for short-term trading with quick in and out, while short positions are the main trend. You can also accumulate small positions in batches, holding for a slightly longer period...
Currently, there are signs of altcoin rotation in the market. If you hold altcoin positions, consider taking partial profits after a rally. Minimize losses and avoid unrealistic expectations...
Last night, the market broke below the 3000 support level. There may be a rebound during the daytime, but it’s still advisable to wait for the rebound to find a good position for shorting...
Today’s Trading Advice: Focus on shorting at high levels
ETH first support at 2920, second support at 2868
First resistance at 3000, second resistance at 3060
Note: Personal suggestions are for reference only and do not constitute trading advice. Trading involves risks. Use stop-loss orders when opening positions.