Yesterday's trading opportunities were good. Bitcoin indeed provided a short-selling opportunity for profit when it retreated from the 90800 resistance level. As we approach the weekend, let's review the key levels and how to operate around them.
Looking back at yesterday's market, Bitcoin continued its upward momentum, pulling back after reaching 90800. The entry point for Ethereum was around 3150, which peaked at 3148; even if not profitable, there was no loss. However, the short-term trend for Ethereum mainly depends on whether the daily chart can break through the 3180 barrier. If the daily support at 3180 cannot hold, a short-term pullback to around 3000 to test support levels is possible.
Today, both cryptocurrencies experienced a retracement and correction on the hourly chart. Saturday is expected to be mainly volatile and consolidating, so traders can consider waiting for a retracement on the 4-hour chart to enter long positions.
**Bitcoin**: Resistance levels are at 90400 and 91400(. If the price reaches these levels today, consider shorting. Corresponding support levels are at 91000/92100, with take-profit targets at 89500/90800). Support levels are at 89200, 88800, and 87800(, with a retracement near 89200). Conservative traders can go long around 89000, with a stop-loss at 88400 and a target profit at 89800. The first reach of 87800 can also be used to go long again, with a stop-loss at 86700 and take-profit targets at 88800/89500.
**Ethereum**: Resistance levels at 3120/3150( are still valid for shorting, with a stop-loss at 3180 and take-profit at 3070/3045). Support levels at 3040/3020( can be used for long entries on retracement, with a stop-loss at 2980 and take-profit targets at 3070/3100).
Wishing everyone successful trading and a happy weekend!
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metaverse_hermit
· 01-06 07:02
I was waiting at the 89,000 level yesterday, but I didn't catch the bottom. Now I'm a bit regretful.
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ChainDetective
· 01-04 17:59
90800 this wave indeed provided a good opportunity, but I still think Ethereum is more testing of patience. If it can't break 3180, then be prepared for a downward probe.
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WalletManager
· 01-03 19:38
90,800 is indeed a tough level to break through, the key is to hold onto the chips. Proper management of private keys is more important than anything else; a slight mistake could wipe everything out.
I'm a bit tempted by the bounce back to 89,000 for Bitcoin, but I still need to see how on-chain funds are flowing. Relying solely on technical levels can be risky.
The move to 3,150 for Ethereum was really insignificant; not making a profit or losing anything is the most frustrating. Maybe just go all-in and buy the dip at 3,000...
If the 88,800 support level can't be held, the risk factor will be maxed out. Make sure to set proper stop-losses on your contracts to avoid liquidation and getting caught in a bad position.
Let the weekend be volatile if it wants; anyway, those big holdings in my cold wallet have been safely stored for a long time. This wave, I’ll just watch the show.
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AirdropHustler
· 01-03 13:53
90800 that wave of shorting was pretty satisfying. Today's volatility is a bit boring.
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SudoRm-RfWallet/
· 01-03 13:53
89000 is indeed a good level; I have already positioned myself.
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ChainMelonWatcher
· 01-03 13:50
Ah... another market stuck in a position, I really dislike this kind of fluctuation.
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RugpullAlertOfficer
· 01-03 13:47
Can I recover my investment if I buy in at 89,000? It feels like the recent two days' rise is a bit fake.
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HallucinationGrower
· 01-03 13:40
The wave at 90,800 was indeed not missed in vain, but now we must hold firmly at the 89,000 level.
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BankruptcyArtist
· 01-03 13:29
I need to try this 89,000 level. I didn't quite catch the bottom yesterday, which is a bit regrettable.
Yesterday's trading opportunities were good. Bitcoin indeed provided a short-selling opportunity for profit when it retreated from the 90800 resistance level. As we approach the weekend, let's review the key levels and how to operate around them.
Looking back at yesterday's market, Bitcoin continued its upward momentum, pulling back after reaching 90800. The entry point for Ethereum was around 3150, which peaked at 3148; even if not profitable, there was no loss. However, the short-term trend for Ethereum mainly depends on whether the daily chart can break through the 3180 barrier. If the daily support at 3180 cannot hold, a short-term pullback to around 3000 to test support levels is possible.
Today, both cryptocurrencies experienced a retracement and correction on the hourly chart. Saturday is expected to be mainly volatile and consolidating, so traders can consider waiting for a retracement on the 4-hour chart to enter long positions.
**Bitcoin**: Resistance levels are at 90400 and 91400(. If the price reaches these levels today, consider shorting. Corresponding support levels are at 91000/92100, with take-profit targets at 89500/90800). Support levels are at 89200, 88800, and 87800(, with a retracement near 89200). Conservative traders can go long around 89000, with a stop-loss at 88400 and a target profit at 89800. The first reach of 87800 can also be used to go long again, with a stop-loss at 86700 and take-profit targets at 88800/89500.
**Ethereum**: Resistance levels at 3120/3150( are still valid for shorting, with a stop-loss at 3180 and take-profit at 3070/3045). Support levels at 3040/3020( can be used for long entries on retracement, with a stop-loss at 2980 and take-profit targets at 3070/3100).
Wishing everyone successful trading and a happy weekend!