On Saturday, Bitcoin slightly retraced after rebounding from yesterday, basically maintaining a narrow range oscillation between 97500 and 98500 during the day. The trading strategy mainly focused on ultra-short-term layouts, with both long and short positions participating but with limited room for profit.
With the price rebounding again at midnight yesterday and touching the 99000 mark, the market has shown signs of a quiet warming up. The downtrend of Bitcoin has been curbed, and the rebound is evident, but based on market data and news analysis, it still seems challenging to expect a strong rise in the short term. Additionally, with lower market liquidity over the weekend, Bitcoin is expected to continue oscillating around the 97000 to 98500 range.
Currently, both long and short positions have entered a critical juncture, and with Trump about to take office, will it reignite the cryptocurrency market?
There are less than three weeks until Trump takes office, and the market seems to have sensed positive signals, with prices continuing to consolidate at high levels and sentiment leaning towards optimism. Ethereum's performance is also impressive, as after several trading days of range oscillation, it finally broke upwards and stabilized above the 3500 resistance level. Although it has not completely escaped the neutral range, it has shown potential upward momentum. While the low liquidity over the weekend puts the market in a consolidation state, historical performance indicates that significant positive news often leads to early digestion and strong surges. Therefore, in subsequent operations, any pullback presents an opportunity for entry.
On Saturday midnight trading strategy, Bitcoin is referenced to high sell low buy within the 97000-98500 range for ultra-short-term trading, while Ethereum is referenced to high sell low buy within the 3550-3680 range, with adjustments to be made based on market signals after the weekend.
