This market makes me want to smash my keyboard! The early session faked a breakout at 2495, hit precisely by the middle Bollinger band, and now it’s stubbornly hanging at 2487.68 like a drunkard. The Bollinger bands are compressing like a pancake, and the trading volume shrank to 11,050 contracts, not even reaching the waistline of the MA10 moving average. The market makers have indeed improved their door-drawing skills; the upper band at 2514.66 is hanging an empty knife, while the lower band at 2476.89 supports fake orders from institutions, and the 2500 round number is pressed down harder than a coffin lid, with the support at 2473.53 not even able to create a splash of water.
In the latest news, rumors about the SEC delaying the Ethereum ETF decision combined with the uncertainty from a major exchange’s sell-off (VOLUME only 11,050 contracts) have made both bulls and bears tremble as if they stepped on an electric pedal. The Bitcoin is playing dead at a key weekly position, and naturally, the altcoins dare not fly solo. The FTBS indicator is missing, clearly indicating that there are hidden risks in the contract market; those who rush in now are either gamblers or bodhisattvas.
Short-term strategies suggest to quickly cut losses and not get emotionally attached to the market makers. During this 37.77-point fluctuation, it’s better to set up a grid to catch small profits rather than manually open positions. Mid to long-term players should put out their cigarettes and patiently wait for direction; with the monthly level triangle convergence at the end combined with Bitcoin’s weekly close, wait for trend confirmation before making a strong move.
Right now, the market makers are using a fine needle to perform acupuncture on retail investors, and I’m only fit to squat in the comments section and watch the show!
If you are currently feeling trapped, helpless in trading, confused, and want to learn more about the cryptocurrency world and get first-hand cutting-edge information, click on my avatar to follow me, and you won’t get lost in this round of bull market!
50808662234$BTC
