From the daily chart perspective, Bitcoin is currently in a typical consolidation phase within a symmetrical triangle. Last weekend, there was a false breakout signal near 940, which just happened to provide a shorting opportunity.
Yesterday, I initially wanted to buy the dip in the 882 to 888 range, but unfortunately, the market didn't give that chance. Since the opportunity didn't materialize, there's no need to force a position—this is a fundamental principle of trading.
Next, focus should be on the performance around 927. This level is not only the 0.618 Fibonacci resistance after the recent decline but also corresponds to a horizontal resistance on the four-hour chart. If the price encounters resistance again here, the idea of continuing to short becomes valid, with the target looking towards the trendline, currently around 877.
However, there's an important detail: as time progresses, the trendline itself is also moving upward. By next week, this trendline is likely to shift up to the 888 to 882 range. This change coincides with Bitcoin's CME gap, making it a noteworthy point of correlation.
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DefiOldTrickster
· 01-11 18:39
Ha, Fibonacci and trend lines again. I've been using this old-fashioned technical analysis for twenty years. The real arbitrage opportunities are never in the charts; they are in the mismatch between on-chain data and liquidation prices. The dip from 882 to 888 was missed, which shows you're still too cautious—during a bear market, you need to be greedy.
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MissedAirdropAgain
· 01-09 09:12
927 When it gets stuck, it's time to act. Fibonacci really is amazing, and the trend line is still subtly moving upward. These details are actually very crucial.
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Ser_APY_2000
· 01-09 08:57
Position 927 is indeed critical, but I always feel like this trend line is moving...
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SerRugResistant
· 01-09 08:54
That fake breakout at 940 was really incredible; the trap was too obvious.
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GasWastingMaximalist
· 01-09 08:42
927, this hurdle is quite interesting. Do you think this time it will really break?
From the daily chart perspective, Bitcoin is currently in a typical consolidation phase within a symmetrical triangle. Last weekend, there was a false breakout signal near 940, which just happened to provide a shorting opportunity.
Yesterday, I initially wanted to buy the dip in the 882 to 888 range, but unfortunately, the market didn't give that chance. Since the opportunity didn't materialize, there's no need to force a position—this is a fundamental principle of trading.
Next, focus should be on the performance around 927. This level is not only the 0.618 Fibonacci resistance after the recent decline but also corresponds to a horizontal resistance on the four-hour chart. If the price encounters resistance again here, the idea of continuing to short becomes valid, with the target looking towards the trendline, currently around 877.
However, there's an important detail: as time progresses, the trendline itself is also moving upward. By next week, this trendline is likely to shift up to the 888 to 882 range. This change coincides with Bitcoin's CME gap, making it a noteworthy point of correlation.