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1: [Bitwise CIO: Bitcoin Returns May Steadily Rise Over the Next Decade, But "Explosive" Growth Is Unlikely]
2: [Strategy Builds $2.2 Billion Cash Reserve, Shifts to Defensive Mode]
How do Bitcoin and Ethereum look today? The U.S. stock market is closed on Saturday and Sunday, and the market's liquidity is still relatively low, with price fluctuations remaining small. The 4-hour and 12-hour charts are narrowing, and even though Bitcoin is facing the largest liquidation day in history, it hasn't caused significant market volatility. Bitcoin is still consolidating in the 87200-88000 range, with intraday fluctuations of less than 1000 points. Ethereum is also hovering in the 2920-2960 range, with intraday fluctuations of less than 50 points. Fortunately, those with heavy positions won't face liquidation risks, but the awkwardness is that the intraday trading space is too small. Therefore, on Friday, Tommy reminded everyone to wait until key levels are reached. So, on Saturday and the weekend, we chose to take a break. The 3000 point level has not been breached, and the 2970 level I repeatedly mentioned last week is currently the short-term resistance level. The entire market is currently influenced by gold's capital absorption, and overall liquidity remains weak. Bitcoin is currently in the accumulation phase, with no clear trend signals given.
BTC: Bitcoin's current support area is 86600-84450, and the resistance area is 88800-89900. Today's operations for Bitcoin on Monday are relatively simple. After a pullback to the support area stabilizes, one can take a small long position. If it rebounds to the resistance level without breaking through, and the volume is insufficient, then it's best to defend. A short position is also a good choice.
BTC Resistance Level (as shown in the image below)
BTC Support Level (as shown in the image below)
ETH: Ethereum's support area is 2780-2880, and the resistance area is 2970-3030. Today's operations for Ethereum are also in sync with Bitcoin. In the consolidation phase, under structurally narrowing fluctuations, there are no strong breakout signals. If it pulls back to the support level without breaking through, one can buy low. If it rebounds to the resistance level without breaking through and the volume doesn't keep up, then it's best to reduce positions and wait for a second pullback to continue buying low.
In summary, today's intraday operations: The market liquidity is low, and the price continues to consolidate sideways. Take a little profit and 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 low at support and selling high at resistance to take a little profit is the most stable rhythm for today.
Intraday Liquidation Map (as shown in the image below)
Today's market is relatively calm, and it's also a good opportunity to practice basic skills, learn more techniques, and practice patience. When the real explosion happens, we can hold on without panic. I am Tommy, a companion in the crypto circle who trades while practicing. If you want real-time entry points and personalized strategies, click on my homepage to join the community. We have professional trading teachers available around the clock to help you maintain your mindset, so you don't have to 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 last 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 make significant gains before the end of the year. I am Tommy from K-line Life, your real-time crypto steward. For more analysis on related cryptocurrencies, please follow my public account for details. ↓
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-top predictions, monthly head predictions.
Public account QR code (K-line Life Tommy)
Friendly reminder: The only public account at the end of the article is created by the author!!
Please be cautious in distinguishing between true and false, thank you for reading!
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