The high level has reached around one hundred thousand, showing signs of pressure. There are indications that the short-term upward momentum may be interrupted.
Therefore, it is not advisable to blindly chase the rise; be cautious of the market being under pressure and undergoing a deep correction. Currently, the market has not broken down, so maintain a high position.
Bitcoin is currently in position, looking at 98000$BTC $ETH $XRP .
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Overnight, the market is still moving in a consolidation range, with no breakthroughs in either direction. Overall, it is trending slightly towards the upper middle.
From the hourly chart of Bitcoin, it retraced all the way last night but stopped at 97,200 points, failing to break below 70,000. Currently, there doesn't seem to be much upward space, and the morning is mainly focused on high space.
Bitcoin, 98,600 as the target, looking towards 96,000.
As we enter January 2025, the correction cycle for Ethereum and its related altcoins should be nearing its end, and we are about to enter the sprint phase of this bull market.
From Trump's election until December 16 of this year, the market has shown an upward trend for nearly one and a half months, with an increase of about 75%. However, the market then entered a correction phase, and in less than half a month, considering extreme market conditions, the correction reached 22%. This type of correction is typical of mid-term adjustments in a bull market.
During the bull market rally, both ETH and altcoins typically experience similar correction cycles. Taking the correction from January 12 to 25, 2024, as an example, the correction at that time was about 20%, the time period is similar to the present, and both are in the same market phase, after which the market welcomed accelerated growth.
After this half-month of consolidation and shakeout operations, ETH's trading volume has dropped to the lowest level since Trump's election. Personally, I believe this wave of consolidation is about to conclude, unless there are new significant changes; otherwise, I will continue to hold this view.
Common methods for accumulating and distributing assets!
1. Price Suppression for Accumulation The operator intentionally lowers the price to trigger stop-loss orders, then buys virtual currency at a low price, waiting for the market to recover and making a profit. This strategy is suitable for cryptocurrencies with low trading volume and few orders.
2. High-Position Oscillation The operator does not increase volume during the first wave of decline but chooses to oscillate at a high position, making most investors believe that the price will rise again, thereby allowing them to take over, ultimately achieving the goal of distribution.
3. Price Spread Distribution Some operators do not pursue short-term profits but instead sell chips at a high position and then buy back at a low position to reduce the cost of their holdings. This method is reflected on the K-line as long upper shadows at high positions and long lower shadows at low positions.
4. Inverted V-Type Distribution This is the most direct and often unprofitable method of distribution, where the operator indiscriminately dumps the market, causing the price to drop rapidly. As long as the price is above the operator's cost, the operator will distribute.
These methods demonstrate the various strategies that operators use in the cryptocurrency market, including accumulation and distribution, aimed at influencing market prices to achieve their own profits. $BTC $ETH $XRP
In the past two days, after recovering and rising, the market has shown a relaxed state. High-level consolidation seems to be gathering strength but is also showing a lack of momentum. The rhythm has been in fluctuation, and even the space for ultra-short-term trading is extremely limited.
From a technical structure perspective, on the four-hour chart, the price is currently under pressure at the 99,000 level, undergoing a correction, but there has not been a significant pullback. The bullish volume is hindered, leading to a delay in the bearish trend. There are signs of repeated upward movement in the short term, but there is no ability to break through. Currently, the recovery has reached a high level, and there is no need to chase further.
Today's strategy focuses on high-level activity: In the 98,600 area, look at 97,300.
Overnight Bitcoin surged strongly, with the price peaking around 99000 before encountering resistance and experiencing a slight pullback.
Currently, the price is oscillating at a high level, and it is not advisable to blindly chase the rise. Additionally, with the weekend approaching, market liquidity is weakening, and volatility will likely contract. The strategy should not focus on a one-sided trend; instead, observe the market's pullback actions. After support is established below, consider going long.
In the morning, Bitcoin is hovering around 98500, looking towards the 97000 range.
Yesterday's big pancake trend was completely in line with expectations. The white盘 soared straight to the target point.
It is also worth mentioning that after the white盘 rose yesterday, it did not experience a significant pullback in the early morning like before. Instead, there was a noticeable retracement during the short-term consolidation, and the magnitude might be larger than earlier.
After going up, it basically cleared out the shorts, and then started to turn bearish. This is my thought process for today. Of course, we cannot rule out the possibility of a big trend coming in on Friday, so evening operations need to be treated with caution by considering multiple factors.
Morning thought process: around 97300 🈳, first look at 95000$BTC $ETH $XRP
These past few days have also been immersed in the joy of the New Year, but the market has been secretly recovering. The trend's consolidation is really not a matter of a moment; the oscillation is becoming increasingly strong. It is expected that after a short-term adjustment in the morning, there will still be another surge.
From a technical structure perspective, in the four-hour level line, the operating channel has formed a flat state after weak downward exploration, with certain recovery effects already appearing. Although the dip at the 91500 level has not clearly driven a price rebound, the release of bearish volume is slightly fatigued. In the short term, it seems that bulls and bears are taking turns, but in reality, they are gradually recovering, as the oscillation sentiment does not appear strong.
In terms of operation, I personally suggest going long in the 94400-94000 area, looking at 96500$BTC $ETH $XRP .
Judging from the 1-hour line of the big cake, the big cake rose and fell last night, reaching a high of around 96,300 points, and then began to decline. However, it is basically about to bottom out and has a trend of rebounding upward. However, whether it is from the 1-hour line or the 4-hour line, the support near the middle track has been broken! The overall trend will continue to test downward, but there is obviously not much room below. Therefore, it is recommended to mainly use a low-long strategy. For big cake, long around 92,800 to 93,200, looking towards 95500$BTC $ETH $XRP
According to yesterday's intraday rhythm, it is expected that today will likely also experience a downward fluctuation during the day, with pressure concentrated at 94000 and support at 91000.
From a technical structure perspective, on the four-hour level, the operating channel remains downward, but has not continued to decline. The bearish volume is arranged, but has not been released in an orderly manner. The strong competition between bulls and bears drives fluctuating emotions, with short-term back-and-forth pulling. The rebound has not stabilized, and the downward probe finds it hard to break through. We will follow the trend.
Today's strategy is to mainly focus on high short positions: 93500 area 🈳, looking at 91800-91300 $BTC $ETH $XRP
From the current 4-hour chart, Bitcoin is still showing a continuous downward trend throughout the day. The current rhythm is in a pattern of oscillation and correction, with daily lows being repeatedly broken. The battle between bulls and bears is intense, but overall the bears have the upper hand! Therefore, the focus today is on entering positions with a high short strategy. Pay attention to 92000 below; if it is broken, we may very well see the long-awaited 80,000 range for Bitcoin.
Bitcoin is at around 94500 🈳, target 92000$BTC $ETH $XRP
High-altitude thinking has been validated, the rebound continues to short! Over the weekend, the overall market was not very active, but the points and ideas for shorting still allowed for some profit,
Today, we are not looking for too large of a one-sided breakout; the pattern does not look particularly good. The overnight dip continues, following the morning's momentum, this morning should continue to be weak, and short positions can be taken near the 92000 area.