Bitcoin retests confirmation, rhythm begins to strengthen

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1: [David Sacks: Cryptocurrency market structure legislation is closer than ever to passing; the crypto industry should leverage the current buffer period to resolve remaining disagreements]

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What do Bitcoin and Ethereum look like today? On Thursday, Bitcoin surged near 98,000 before experiencing a short-term pullback, currently touching around 94,200, a 3.72% correction. I mentioned in Thursday’s article that this wave of rally is a typical market rebound driven by emotional factors. The correction on Friday seems more like digestion of the FOMO-driven buying on Thursday.

BTC: From the 12H chart, around 95,000 will be the last watershed for the year’s trend. If Bitcoin retests and stabilizes above 95,400, we should watch the next resistance zone at 102,700. Key levels to remember are: around 95,000 as the bulls’ defense line, 96,800-97,200 as the mid-range pivot, 98,000 as short-term breakout resistance, and 99,500 as the volume-confirmed bullish momentum zone. As long as the pullback does not break below 95,000, avoid shorting; go long with a core position. If 97,000 stalls and consolidates, take profits and wait for a new trend. Confirmed above 99,500, continue to follow the bullish trend.

ETH: From the current chart, Ethereum’s breakout strength remains weaker than Bitcoin’s. It is oscillating around 3,250, with repeated tests of support at 3,230-3,200. As long as Bitcoin holds above its support, Ethereum will also attempt to break through the resistance at 3,350-3,380, transitioning into a support-resistance flip zone. The trading strategy mainly focuses on dips for long entries.

Liquidity tends to weaken over the weekend, so patience is key—wait for good entry points and take profits promptly.

Remember, the ones who truly make money are never the fastest responders. It’s about being on the train when others doubt. Following the market trend allows you to go further and truly achieve results.

In this recent bull market, I repeatedly emphasize that I believe the underlying logic of the crypto market has changed. The factors influencing market movements are more complex than before, and this complexity is unprecedented in past bull and bear markets. I am Tommy, a trader and practitioner in the crypto space, here to help you with real-time entry points and personalized strategies. Click on my profile to join the community. We have professional trading instructors available around the clock to help you stay calm and avoid toughing it out alone.

Levels are time-sensitive, and posts may have delays, so please refer to real-time market data. Lastly, remember the two key points from my previous article: in the short term, focus on testing positions; once outside our target zone, it’s the last chance to buy big before the end of the year. I am K-line Life Tommy, your real-time crypto concierge.