Happy New Year! Wishing all traders a prosperous year ahead.
Let's start with Bitcoin. The sideways movement over the past two years has been quite uncomfortable. Yesterday's rebound had some action but didn't yield much profit before falling back down. Today's daily chart still looks the same, stuck in a consolidation zone. My trading approach remains based on high and low points; avoid getting involved in the middle price range.
In the short term, Bitcoin's resistance is around 88,000. If there's a shorting opportunity, consider positioning here. As long as the rebound doesn't break this level, the market remains weak. The key support below is in the 86,800 to 86,300 range. A pullback to this area could be a good opportunity to go long, with a stop-loss set at 86,000. If this level is broken, it indicates a genuine downtrend, with the first target around 84,500, and further down to about 80,000. Conversely, to push higher, Bitcoin needs to break through 88,000 first. After that, watch the 89,000 to 90,500 range.
Now, Ethereum. It has pulled back but hasn't broken below 2,950 yet, which remains the main support. As long as this level holds, it shows bullish momentum. The rebound target is between 3,030 and 3,070. A rebound in this zone could be a good shorting opportunity at the top, with a re-entry point around 3,150. If it breaks below 2,950, the small rebound phase is over, with support levels at 2,880. A break below that confirms a downtrend, with targets around 2,780 to 2,730. Long positions can be initiated in this zone.
SOL's situation is similar. It just bounced off the 123 support level. As long as this support holds, the bullish trend remains intact. Resistance on the rebound is around 128 to 130. A short position at the top can be considered here, with a re-entry at 135. If it falls below 123, the rebound phase ends. Support levels below are at 120, 118, and 116. Long positions can be taken at the second and third support zones.
BNB's rebound target has been reached, and the daily chart still shows a rebound trend. The key support on the pullback is at 850; holding this level indicates active bulls. Resistance on the rebound is between 880 and 900. A rebound in this range can be shorted. If it breaks below 850, support levels are at 820, 800, and 790. Long positions can be established at these support zones.
Manage your positions carefully. The above is for reference only.
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DeFiVeteran
· 6h ago
It's the same old story. If 88,000 can't be broken, just wait and continue to consolidate. It still feels like this year's market is quite torturous.
Wait, can 2950 really hold? I'm a bit skeptical.
SOL's rebound this time is quite interesting. If it breaks 123, it's completely over.
As for BNB, it still depends on whether 850 can hold. If it can't, it will head straight to 800.
Position management sounds easy to say but hard to do. I'm troubled by both adding positions and stop-losses.
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Blockchainiac
· 6h ago
It's the same old routine of highs and lows; if 88,000 can't be broken, we still have to hold back.
What can I say, this consolidation is really frustrating; it's better to just drop sharply and get it over with.
If 2950 can't hold either, it's time to consider lowering expectations.
The resistance on the SOL rebound is so strong, it feels like it could drop at any moment.
Speaking of the New Year, why is it still the same as last year, exactly the same.
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NoStopLossNut
· 7h ago
Is this the same operational logic again, buying and selling at highs and lows? Or that old saying, holding the support is the key.
What if it can't break 88,000 again? Do we really have to drop to 80,000? It feels a bit risky.
Holding at 2950 for so long, it should have rebounded by now...
SOL's recent rebound was just following the trend; the courage to add at 135 is really impressive.
Position management is indeed the hard truth, but with such volatile market conditions, it's exhausting.
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DeFiGrayling
· 7h ago
It's the same pattern again, buying and selling at high and low points, with the middle price stubbornly unmoving. The 88,000 resistance can't be broken, and the indicators are also poor. It feels like this rebound is just a false alarm.
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LightningLady
· 7h ago
It's the same old story again. If 88,000 can't be broken, we'll just keep shorting.
Silent wealth is the way to go. Don't bother with those useless New Year greetings.
I need to keep a close eye on the 2950 level. Once it's broken, it will drop straight to 2780.
SOL has been bouncing back and forth around these points. It's so boring.
Yes, that's right. Position management is the most important. I was greedy again.
Happy New Year! Wishing all traders a prosperous year ahead.
Let's start with Bitcoin. The sideways movement over the past two years has been quite uncomfortable. Yesterday's rebound had some action but didn't yield much profit before falling back down. Today's daily chart still looks the same, stuck in a consolidation zone. My trading approach remains based on high and low points; avoid getting involved in the middle price range.
In the short term, Bitcoin's resistance is around 88,000. If there's a shorting opportunity, consider positioning here. As long as the rebound doesn't break this level, the market remains weak. The key support below is in the 86,800 to 86,300 range. A pullback to this area could be a good opportunity to go long, with a stop-loss set at 86,000. If this level is broken, it indicates a genuine downtrend, with the first target around 84,500, and further down to about 80,000. Conversely, to push higher, Bitcoin needs to break through 88,000 first. After that, watch the 89,000 to 90,500 range.
Now, Ethereum. It has pulled back but hasn't broken below 2,950 yet, which remains the main support. As long as this level holds, it shows bullish momentum. The rebound target is between 3,030 and 3,070. A rebound in this zone could be a good shorting opportunity at the top, with a re-entry point around 3,150. If it breaks below 2,950, the small rebound phase is over, with support levels at 2,880. A break below that confirms a downtrend, with targets around 2,780 to 2,730. Long positions can be initiated in this zone.
SOL's situation is similar. It just bounced off the 123 support level. As long as this support holds, the bullish trend remains intact. Resistance on the rebound is around 128 to 130. A short position at the top can be considered here, with a re-entry at 135. If it falls below 123, the rebound phase ends. Support levels below are at 120, 118, and 116. Long positions can be taken at the second and third support zones.
BNB's rebound target has been reached, and the daily chart still shows a rebound trend. The key support on the pullback is at 850; holding this level indicates active bulls. Resistance on the rebound is between 880 and 900. A rebound in this range can be shorted. If it breaks below 850, support levels are at 820, 800, and 790. Long positions can be established at these support zones.
Manage your positions carefully. The above is for reference only.