Saturday Morning Market Analysis and Trading Ideas



The recent rebound overnight was quite interesting. Bitcoin recovered from a low of 86,760 to around 87,727 and started to consolidate, and Ethereum was not to be outdone, rising from 2,893 to around 2,938. This strong correlation indicates that funds are still testing the waters.

Looking back at previous trades, the short-term long positions around 87,000 on Bitcoin performed well, effectively hitting resistance levels. The current situation is that the market has just undergone a stress test and is now in a recovery phase. You can sense that this is a consolidation pattern—there's a low probability of a one-sided trend.

As the weekend approaches, a range-bound consolidation is expected to continue. This kind of market tests your sense of rhythm—shorting at highs and adding positions at lows, while keeping your leverage in check.

Specifically:
Consider shorting Bitcoin in the 87,800-88,300 range, with support around 87,000.
Short Ethereum around 2,980-2,960, targeting 2,910.

Don't be greedy, control your risk, and the market will give you feedback.
BTC0,28%
ETH0,36%
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
  • 4
  • Repost
  • Share
Comment
0/400
LightningHarvestervip
· 12-26 23:39
It's another period of fluctuation. The short position from yesterday was really stuck tightly. Now, let's see if we can hold above 87,000.
View OriginalReply0
ZkSnarkervip
· 12-26 23:32
ngl the "整理的味道" observation is actually pretty solid... well technically what they're describing is classic ranging behavior post-retest. imagine if everyone just admitted markets do this instead of always chasing the next breakout lol
Reply0
SandwichTradervip
· 12-26 23:26
Bro, you really need to get a good sense of the rhythm in this move, or you'll get trapped easily. You must hold the line at 87,000.
View OriginalReply0
0xSherlockvip
· 12-26 23:25
Once again, we're in this stagnant market, really testing human nature. Selling high and buying low sounds easy in theory, but it requires discipline in practice. The 87,000 level is indeed tough, but greed will eventually lead to a crash.
View OriginalReply0
  • Pin

Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)