Waiting is often agonizing, but great tasks are entrusted to those fit for them—one must first test their resolve of mind and will, and labor their sinews and bones. The crypto market is the same: hold your focus, keep your positions, and after countless sleepless nights, you will eventually get an answer in the form of USDT.
Today’s market action is not fluctuating much. It’s mainly presenting as a pressure-and-pullback pattern for us. The high at 67,000 was tested but failed; the high-level suppression zone that 卓伟 kept emphasizing ahead of time has now taken shape. Today’s market operating pattern is essentially a warm-up test—it’s assessing the suppression effect of the 66–67 range, and also cleansing recent wavering sentiment.
Today, during the intraday session, the short positions also saw some profit. In the morning, the price surged to test the 66,700 area, and you followed through decisively to short. In the evening, you successfully took profit with 1,000 points of room. Also, there’s another good report you haven’t had time to tell everyone yet: the short position placed near 66,500 a few days ago has also successfully been closed out and exited today.
Still feeling confused about this kind of market structure right now? Actually, opportunities have already been presented very clearly—it's just that because of your indecision, you’ve held back your progress. After circling around, it all returns to the starting point. The current coin price has rebounded again and risen to around 66,300.
As for ETH today, the structure is range-bound consolidation. The reason this pattern occurs is mainly that the capital pool drives things along but remains relatively weak, and the market is thick with wait-and-see sentiment—this is normal for the market. In recent days, there have been frequent developments on the news front. The Ime conflict already exists; the yellow-hair statements are also going on a rampage against other statements; and the clearly outlined bill from yesterday—what they provide are all ambiguous data. Under these circumstances, standing by is also understandable.
Technically, on the four-hour timeframe, in the evening after the wick pierces down to test the mid-band, the price quickly stretches up and rebounds. For a short period, it presented a small sequence of consecutive bullish candles, and the market has once again entered a repair phase. But it’s clear that this strength won’t be very strong. Today’s breakdown-and-test has already opened up the downside space, and combined with the strong overhead resistance at 67,000, the rebound in the short term is, to a large extent, only a repair after today’s breakdown. Going forward, bearish sentiment still has the upper hand. At this stage, our positioning can be built around following the short-term rebound repair phase to go short. Just remember: for the next decline, we still need to watch the effectiveness of today’s two dips around the 65,500 support line. If it breaks, we’ll continue looking lower.
Big cake: short in the 66,300–66,800 range Target: 65,000
ETH: short in the 1,950–1,965 range Target: 1,900
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