Monday, the morning surge is not a good sign, should we take a short position first?
The weekend saw little fluctuation, oscillating around the range box, with a low of 95700 and pressure concentrated at 98500. Currently, we are in a high-level consolidation phase, and breaking through all at once is difficult. Point-based operations remain the focus, and in case of insufficient strength in the morning breakout, we may take a short position first. Then we can reassess.
In the current situation, Ethereum seems to show signs of having a ± relationship with Bitcoin. When Bitcoin falls, Ethereum rises. This has happened many times. There are only a few instances of them moving in sync. However, Bitcoin is also oscillating around the trend, with its decline being limited by a series of influences.
Currently, Ethereum's strength is still quite remarkable, slowly rising to 3760 with a step-back approach. If it breaks through 3800, it might test the previous historical high points again. The market is like this, often born from fear. The moment when Ethereum was at 2300 and looking despondent is still fresh in memory, and in the blink of an eye, it showed strength. It’s also a case of new leadership taking over, and in the end, Ethereum has taken on the role of the main force!
Monday's operational thoughts～
For Bitcoin, before the US market opens, we will first take high short positions around the pressure at 98500, then treat a pullback to 95550 as a low long position.
If Ethereum can’t break through 3800, it will still be revolving around the high points. Point-based strategy is still needed, step by step. The space looks at 100-160.
That’s all for now, wishing everyone good luck. There may be certain opportunities for waves to emerge in December, so everyone should patiently wait for this round of consolidation to transition. $BTC $ETH