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U.S. unemployment benefit claims data yesterday came in below expectations, which should be considered bearish, but the market reaction was interesting—initially a slight rally, followed by a correction. Ethereum moved through a complete Fibonacci retracement zone, with the overall move not being large, while Bitcoin was firmly supported by a short-term trendline.
From a technical perspective, Bitcoin has completed a 3-wave upward structure after bottoming out. The key question is—can it break out of the 5th wave? If the 5th wave is successfully completed, the next resistance level is the 100,000 mark. This level is a trendline resistance zone, and the probability of a breakout depends on trading volume.
The overall outlook remains bullish, but the premise is to hold existing support levels and wait for the 5th wave confirmation. Market rhythm is crucial; short-term fluctuations are within expectations and have not yet disrupted the larger upward framework.
The real story is when Wave 5 breaks through 100,000. If the volume can't keep up, then it's just another false breakout.
Ethereum's Fibonacci retracement looks comfortable this time; there's nothing to be nervous about.
As long as the support holds, everything else is just noise.
If it can't break 100,000, it'll just stay sideways. Anyway, I'm not in a hurry.
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ETH Fibonacci retracement is back again, just waiting for BTC to decide the winner.
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Don't make it so complicated. Simply put, hold the support and avoid breaking down. 100,000 will be revealed soon.
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If the trading volume can't keep up with the breakout, it's just a false move. I've seen this scenario too many times.
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Interesting, bad news turning into good news? I'll just see how far this 5th wave can go.
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The trendline holding is a good sign, but I'm still a bit cautious and not willing to go all-in.
Wave 5 breaking through 100,000? Easier said than done. If the volume can't keep up, it's nonsense. I bet 5 bucks this is another false breakout.
Fibonacci retracement has no technical content; it's just psychological warfare.
If support can't hold, we have to admit defeat. Don't talk to me about frameworks; reality is much colder than charts.
This trendline resistance looks a bit risky to me. 100,000 isn't that easy to conquer.
Let's wait for confirmation signals. During such times, it's easiest to get cut. Being cautious is not wrong.
Market rhythm, huh? Sounds very professional, but I still think the trend can change at any time.
Wait, you mentioned Fibonacci retracement, why didn't I see it clearly? Is Ethereum about to go through another round of turbulence?
Breaking the 100,000 level still depends on volume. Without volume, it's just a fake rally. I understand this principle too well.
Only when a 5-wave pattern is completed can we say it's a win. It's still too early to call for a rally now; I just want to see if the support holds.
Short-term fluctuations within expectations are fine. What I'm really afraid of is a sudden crash. Keep the support levels firm for me!
Breaking 100,000 is really about volume catching up, otherwise it's just an illusion of high prices.
Don't rush, hold the support level first. Rhythm is the key.
Waiting for wave 5 confirmation again. Feels like we're always waiting. When will it really come?
Unemployment data favoring a market rally? That's an interesting logic.
Bitcoin is being tightly pressed down by the trend line, indicating that shorting is still fierce.
While bullish, I still think this rebound is a bit fake; volume hasn't caught up.
The 100,000 hurdle is a bit risky; breaking through isn't that easy.
Ethereum finished the Fibonacci retracement and then no movement. This market is so boring.
Holding support is a victory? Feels like the standards are being lowered too much haha.
Let's wait for confirmation of Wave 5; it's too early to say now.
Here comes Fibonacci again; this wave of correction is quite uncomfortable.
Bitcoin holding up is pretty good; I'm just worried it might suddenly crash.
The market seems to be moving a bit slowly, feeling like it's constantly oscillating.
Just hold the support level, no need to mess around.
Did the 10万 flash? Overthinking it, let's see how it goes.
If Wave 5 can develop, then it's a go; the problem is the volume.
This wave of correction has trapped quite a few people, haha.
The upward framework is still intact; just keep waiting, and it'll be over.
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It's good if wave 5 can develop; now it's just waiting for confirmation, holding the support level without falling below.
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The Fibonacci retracement zone is a gentle way of referring to Ethereum; in simple terms, it's just a correction, as long as the main framework isn't broken, it's fine.
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If trading volume doesn't keep up, the 100,000 level can't be突破; I've seen this happen too many times.
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All the conditions for a bullish outlook are now in place; it all depends on whether it can withstand the pressure and hold this level.
I don't think it's going to be so easy to break through the 100,000 level. Trading volume needs to keep up.
This wave of Bitcoin depends on whether the support can hold. If it breaks, then it's time to reflect.
Unemployment data being bearish but actually pushing prices up? This market is truly magical.
Wait for Wave 5 to be confirmed. It's too early to make a judgment now.
Wait, can 100,000 really be broken? Feels like this level has been stuck for a long time.
Before the 5th wave is confirmed, I dare not get on the train.
The key is whether we can hold the support this time, otherwise, we will have to tell the story again.
We've seen so many breakouts that can't keep up with volume, be cautious.
The 100,000 level still feels far away; trading volume needs to keep up.
If Wave 5 can be confirmed properly, I'm just worried there might be a reverse move halfway through.
Why is Ethereum's decline so mild? It's a bit suspicious.
As long as support holds, that's good news. Don't break the level.
Short-term fluctuations are within expectations, so let's just keep waiting. Anyway, I don't chase highs.