In the afternoon, BTC did not experience much volatility, hovering around 60000 with a narrow range. ETH followed BTC, lingering around 1580. In such frustrating market conditions, patience is required; wait for the evening breakout results.



Looking at the current chart, on the 4-hour level, BTC repeatedly wicks back and forth within a range, showing a pattern of resistance on the upside and support on the downside. It is a typical standard consolidation box structure. The Bollinger Bands are extremely narrowing, with volatility compressed to a recent low. Patience is needed; the evening will see a breakout with increased volume. On the 1-hour level, there are repeated short-term fakeouts to both long and short. Although there is clear support on the downside, the rebound strength of the bulls is noticeably weak. The current market conditions should still be positioned according to the overall trend. Follow the trend and short at highs.

In the evening, short BTC in the 60300-60800 range, target near 58500.

In the evening, short ETH in the 1580-1610 range, target near 1500#Solana生态ANSEM暴涨 $BTC $ETH ‌ ‌
BTC-0.97%
ETH0.67%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned