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1: [Russian Ruble Stablecoin A7A5 Supply Surges to $90 Billion, Outpacing USDT and USDC]
2: [Negotiations on U.S. Crypto Market Structure Bill Stalled: DeFi Regulation and Stablecoin Yields Major Points of Disagreement]
What do we think about Bitcoin and Ethereum today? Thursday's pullback was actually a very standard daily-level correction, with Bitcoin hitting a low of 89,200 and Ethereum a low of 3,050, both of which are key support levels on the 4-hour chart. We have repeatedly highlighted these levels in previous articles; if we follow Tommy's trading plan, then most people are not panicking but are already profiting. From the performance of the market after the initial jobless claims data released on Thursday and the non-farm payroll data released last night, the short-term data did not bring significant impact to the market. Yesterday afternoon's wave has already cleaned up the short-term market sentiment, and the structure has not deteriorated. So today, during the weekend, we just need to remember to focus on buying the dips. Keep a good defense below.
BTC: Bitcoin faced pressure again after reaching around 91,500 last night. In the previous article, we repeatedly pointed out that the pressure level for Bitcoin's bulls is to break and hold above 91,500 with volume. The support below is around 90,400; as long as it doesn't break, this is our entry point for long positions. So whether it's Bitcoin or Ethereum, the overall trend has not shown a significant volume breakout, and it has been forming a range-bound oscillation near the neckline. The operation should follow this principle: wait for the right position, buy on dips that do not break support, and short if the pressure level breaks without volume.
ETH: Currently, Ethereum's overall market is clearly weaker than Bitcoin. Yesterday, we provided the upper pressure level of 3,150 and the lower support of 3,050. This range is where we can trade back and forth for short-term entries. Today's operation is also simple: short high and long low. It synchronizes with Bitcoin's rhythm, waiting for pullbacks and breakthroughs to enter, rather than entering in the middle position, which can lead to being stuck in limbo.
In summary, today's intraday operation: the market will not see significant fluctuations over the weekend, so focus on trading within the short-term range. The intraday oscillation is narrow; take a little profit and walk away, don't be greedy. Avoid being washed out by this sideways movement, and when the new trend direction erupts, we won't panic. So buying on dips at support and shorting at resistance to take a little profit is the most stable rhythm for today.
In this recent bull market, I have repeatedly emphasized that I believe the underlying logic of the crypto market has changed. The factors determining market trends will be more complex than before, and this complexity is something investors have not experienced in previous bull and bear markets. I am Tommy, a companion in the crypto space who trades and practices simultaneously. If you want real-time entry points and personalized strategies, click on my profile and join the community. We have professional trading instructors available around the clock to help you maintain your mindset; don't bear it alone.
Points are time-sensitive, and there may be delays in posting, so please refer to real-time market conditions. Lastly, everyone should remember the two key points I mentioned in my previous article: focus on trial positions in the short term, and once we move away from our target range, it will be the last opportunity to get in before the end of the year for significant profits. I am K-Line Life Tommy, your real-time crypto steward.
Mainly focused on spot, contracts, BTC/ETH/ETC.
Specializing in style: K-Line Trading
Original volume trading strategy.
Short-term swing highs and lows, medium to long-term trend trades, daily extreme pullbacks, weekly K-line top predictions, monthly K-line head predictions.
WeChat public account QR code (K-Line Life Tommy)
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Please be cautious in distinguishing between true and false, thank you for reading!
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