BTC stuck at 78k, will a trend reversal happen in the next few days?
🔑 In a nutshell: BTC has been ranging around $78,000 for over a week, with both bulls and bears locked in a stalemate. However, on-chain data and ETF fund flows are signaling a clear direction—an essential choice could be coming in the next few days. 📊 Let's take a quick look at the current state Current price: ~$77,980 7-day range: $73,705 – $79,321 7-day average volume: ~$50.66 billion Funding rate: Neutral to bullish 🔥 Why is now a critical moment? You might have noticed—BTC has been stuck recently, not able to break above or below, oscillating between $74,000 and $79,500. This isn't just any ordinary range. This "consolidation" pattern in technical analysis is called a trading range, typically indicating that the market is building up energy—once a breakout occurs, the direction will be strong.
No matter how you want to proceed, you must first find the right direction before taking the first step! From the initial Bitcoin to the thousands of dazzling cryptocurrencies today, we have seen too many stories of overnight wealth, yet we always find it difficult to catch such opportunities. Under the impact of desire and envy, it gradually becomes hard to remain rational, ultimately leading to the loss of hard-earned money in unknown 'altcoins'. Although we often hear success gurus say to step out of the 'comfort zone', it is crucial to find your own 'comfort zone' in the ever-changing investment market. Whether your position is solidly chosen determines whether you can achieve final victory in this war without gunpowder.
The Pursuit of Truth (Part VI) - Wyckoff's Third Law
Wyckoff's Third Law: Law of Supply and Demand Some people may feel confused when viewing the Second Law; in the real trading market, there can be large volumes but small price increases, while some prices soar without strong transaction volume behind them. So what is going on? This leads us to the Third Law. Wyckoff's Third Law is equivalent to Newton's Third Law of Physics. Every action has an equal and opposite reaction. In other words, price fluctuations on the chart will reflect changes in the underlying transaction volume. There should be a harmonious and unified state between the two, where input (i.e., transaction volume) can predict the corresponding output (i.e., corresponding price behavior).
The Path of Seeking (Part Five) - Wyckoff's Second Law
Wyckoff's Second Law: Law of Cause and Effect Everything has a cause and effect; a small cause leads to a small effect, while a large effect must have a large cause. The two complement each other and should ideally present a proportional relationship. In trading, small fluctuations in trading volume will lead to small price movements. This principle can often predict future trends when applied to multiple price bar charts. One can imagine a sailboat sailing in the sea; small waves might only cause the sailboat to rise and fall, while large waves could lead to shipwrecks and total capsizing. Figure 2.2 - Causal Relationship Diagram (Ethereum K-line Chart on November 21, 2024)
🤖Admit mistakes, and stand at attention when being criticized!
It has been three days since the last operation. After multiple attempts with small losses, I implemented stop-loss measures. Failure is not terrifying; what is terrifying is refusing to acknowledge one's own failures, using bad luck as an excuse instead of facing the reality of misjudgment.
Only by pre-processing bad results can we effectively preserve our capital. Keeping our bullets for the next battle is crucial to achieving ultimate victory. The only regret is the failure that has disappointed my loyal followers, as my misjudgment may have caused you financial losses as well.
Firstly, Lang Han is not a god✨, and cannot always be right. However, maximizing profits and minimizing losses has always been what I strive for. I hope everyone can continue to seek the path with me, witness together, and achieve the goal of financial freedom of 20 million together 😀
✨I have learned and tried many technical operating methods, such as Bollinger Bands, moving average operation theory, MACD, RSI, KDJ, etc. The fluctuating price numbers mixed with various lines result in changing profits and losses, exhausting my energy. Until I started to delve into Wyckoff's theory, the simple price-volume analysis techniques derived from the supply-demand relationship felt like a ray of sunshine in the fog, guiding me forward. In my subsequent learning, I will start from the most basic Wyckoff Three Laws, up to practical techniques. My knowledge is shallow, and I hope like-minded individuals will not hesitate to teach me. Thank you very much!!!
Slept in during the holiday, and sure enough, Ethereum did not disappoint 😎 3410 to 3330, snacks 80 points, the new year seems to be looking good To all the friends seeing this post, I wish you good health and all the best in the new year.
In the case of misjudgment, being able to retreat unscathed, I don't know if it's the favor of the goddess of luck or the reasonable application of capital management? Since we are unscathed, let's be reckless again while waiting for the opportunity!!
Lang Han Analysis Report, Opportunities Known Early - 12.30
Waves rise and strange clouds move, the cold night reflects the starlight. Hello everyone, I am Lang Han 😘. Today is December 30, 2024, and ETH has entered a critical period of whether it can start to rise. I hope to provide some useful analysis information. Ethereum Daily Chart 👉 First, let's look at the overall situation from the daily chart. The fluctuations in the past few days have not been large. The lack of volume during the decline and pullback indicates weakness in the future. If you are shorting at a low position, it would be prudent to cut losses and exit early. Overall, each decline's bottom is higher than the previous one, and it is still oscillating between the second test and oversold range. Currently, what is lacking for a bullish situation, in my view, is a bit of volume.
The waterfall flows straight down, finally not hitting your cold face! Did the babies who saw the post in advance seize the opportunity? It's okay if you didn't catch it, there will be plenty of opportunities later. Be sure not to get overly excited and chase after dips while selling on rises~
If we can break through 3335 later, babies can set a stop loss at this level and continue to look down, also to prevent profit withdrawal!
The Path to Enlightenment (III) Special Case K-Line
Meaning of K-Line As the supply and demand relationship and emotions in the market are constantly fluctuating, the K-lines that make up the trend chart have both bearish and bullish, long and short; by understanding the meanings represented by different individual K-lines, we can understand the short-term comparison of bullish and bearish forces in the range, thus helping us better analyze the overall trend of the market. 👉 Hammer: A K-line chart with a long lower shadow and a small upper body, usually indicating a reversal at the market bottom; Figure 1.5 - Hammer in Market Trends (Ethereum K-line Chart on May 1, 2024) <br /><br /> From this chart, we can see that after a continuous decline in the market, a small body with a long lower shadow appears as a hammer, which may indicate a bottom reversal;
From the Edo period of Japan to the present, candlestick charts have developed significantly and are widely used in stock markets, futures, and cryptocurrency markets, giving rise to countless trading indicators and patterns. Many have amassed huge wealth through the ever-changing candlestick charts, but more have fallen in the waves of fluctuation, wasting their youth and lives. This book starts with candlestick charts because I believe life is like the constantly fluctuating yin and yang lines, sometimes high and sometimes low; you can never predict the detailed direction ahead. What we can do is to follow the trend of 'the hidden dragon in the deep' and 'the flying dragon in the sky', acting in accordance with the trend is the way to achieve great success.
The road ahead is long and has no end; I will search up and down. ——Qu Yuan (Li Sao) Since I began to engage in financial investment, I knew this was one of the few pleasures in my life, and it is a ladder through which I can change my mundane life through enjoyment. I am fortunate in this, but whether I can achieve it is yet uncertain. I have read many books, from Buffett's value investing to Livermore's technical analysis, from chart patterns to the application of various indicators, but I have lost more than I have won, failing to grasp the reasons. Looking back now, I realize that my understanding was shallow; I learned one thing at a time, but I never grasped the essence and the corresponding principles behind them.
Good morning, brothers. The 100-point rise last night has been pulled back today. As I said before, the key to all rises or falls lies in whether the volume can be continuously supplied. In the short term, the short position cannot be ignored. If you want to reverse, you must show a strong performance on the 4-hour or daily chart. Brothers, be more patient. Lions will lurk in the bushes before hunting.
Login to explore more contents
Join global crypto users on Binance Square
⚡️ Get latest and useful information about crypto.