Bitcoin Struggles to Break Oscillation Pattern, Watch Altcoins for Fund Hotspots
The weekend market has been getting increasingly lively lately. Bitcoin surged sharply last night, successfully breaking through $73,000, but subsequently retreated, indicating that without significant positive news catalysts, Bitcoin still struggles to break through the large oscillation range of $65,000-$73,000.
👉 Technical Analysis - Macro Environment: Don't Forget We're Still in a Bear Market
First, we must face a fact: Bitcoin remains in a bear market cycle. Don't expect Bitcoin to suddenly break through multiple resistance levels and surge to $80,000 or higher. Currently, each resistance level exerts clear pressure on prices. From the daily chart perspective, there's resistance near the Bollinger Band upper rail at $72,500. Even if breached on the short term, there will be pullback pressure. On the weekly chart, the MA10 moving average at $75,700 is a strong resistance level. From the current market view, it's quite difficult for Bitcoin to reach this position. Any position above $72,000 is a viable shorting opportunity.
👉 News - US-Iran Conflict Continues to Escalate, Is the US Economy Facing a "Stagflation" Crisis?
Iran launched multiple strikes against US military forces in the Middle East today, while the US bombed Iran's important oil port. Currently, the war's impact on the crypto market has largely been digested, and Bitcoin has established its own oscillation rhythm. Additionally, the risk of the US economy falling into "stagflation" is affecting the direction of risk assets. Pay attention to whether upcoming US economic data could constitute subsequent bearish factors. If so, it would also pressure coin prices. Of course, if the US-Iran conflict ends, Bitcoin might still have momentum for a short-term rally, but breaking through the strong resistance at $75,700 will be difficult. However, without significant changes in the news environment, the oscillation range will be hard to break in the near term.
👉 Trading Suggestions: Trade High-Short and Low-Long Around the Oscillation Range
Following the trend means that since the market (whales) has recognized the $65,000-$73,000 oscillation range for the short term, let's go along with it. Short-term traders can take action: layout long positions below $67,000 with stop-loss below $65,000; layout short positions above $72,000, with aggressive traders potentially shorting above $70,000 with stop-loss above $75,000.
👉 Altcoins: Mainstream Altcoins Continue High-Short and Low-Long, While Watching for Fund Hotspots
Mainstream altcoins have recently been oscillating together with Bitcoin, with Dogecoin being a typical example, fluctuating in the $0.086-$0.11 range. High-shorting and low-longing in this range has likely generated profits.
Regarding other altcoins, it can be said we're seeing "chaos," with funds rotating through strong coins, but if Bitcoin shows a pullback in the short term, altcoins risk a decline in speculation. If you want to participate, be sure to control your position size. You can enter with small positions in strong coins like Trump and RIVER at dips, and remember to set stop-losses.
#周末行情分析
Bitcoin Struggles to Break Oscillation Pattern, Watch Altcoins for Fund Hotspots
The weekend market has been getting increasingly lively lately. Bitcoin surged sharply last night, successfully breaking through $73,000, but subsequently retreated, indicating that without significant positive news catalysts, Bitcoin still struggles to break through the large oscillation range of $65,000-$73,000.
👉 Technical Analysis - Macro Environment: Don't Forget We're Still in a Bear Market
First, we must face a fact: Bitcoin remains in a bear market cycle. Don't expect Bitcoin to suddenly break through multiple resistance levels and surge to $80,000 or higher. Currently, each resistance level exerts clear pressure on prices. From the daily chart perspective, there's resistance near the Bollinger Band upper rail at $72,500. Even if breached on the short term, there will be pullback pressure. On the weekly chart, the MA10 moving average at $75,700 is a strong resistance level. From the current market view, it's quite difficult for Bitcoin to reach this position. Any position above $72,000 is a viable shorting opportunity.
👉 News - US-Iran Conflict Continues to Escalate, Is the US Economy Facing a "Stagflation" Crisis?
Iran launched multiple strikes against US military forces in the Middle East today, while the US bombed Iran's important oil port. Currently, the war's impact on the crypto market has largely been digested, and Bitcoin has established its own oscillation rhythm. Additionally, the risk of the US economy falling into "stagflation" is affecting the direction of risk assets. Pay attention to whether upcoming US economic data could constitute subsequent bearish factors. If so, it would also pressure coin prices. Of course, if the US-Iran conflict ends, Bitcoin might still have momentum for a short-term rally, but breaking through the strong resistance at $75,700 will be difficult. However, without significant changes in the news environment, the oscillation range will be hard to break in the near term.
👉 Trading Suggestions: Trade High-Short and Low-Long Around the Oscillation Range
Following the trend means that since the market (whales) has recognized the $65,000-$73,000 oscillation range for the short term, let's go along with it. Short-term traders can take action: layout long positions below $67,000 with stop-loss below $65,000; layout short positions above $72,000, with aggressive traders potentially shorting above $70,000 with stop-loss above $75,000.
👉 Altcoins: Mainstream Altcoins Continue High-Short and Low-Long, While Watching for Fund Hotspots
Mainstream altcoins have recently been oscillating together with Bitcoin, with Dogecoin being a typical example, fluctuating in the $0.086-$0.11 range. High-shorting and low-longing in this range has likely generated profits.
Regarding other altcoins, it can be said we're seeing "chaos," with funds rotating through strong coins, but if Bitcoin shows a pullback in the short term, altcoins risk a decline in speculation. If you want to participate, be sure to control your position size. You can enter with small positions in strong coins like Trump and RIVER at dips, and remember to set stop-losses.