Altcoins have been somewhat active these past couple of days, and a rebound momentum has quietly emerged.
Recently, Bitcoin has stabilized at around 110,000 for 6 consecutive days, indicating that the short-term downward movement is limited.
Even if there is a pullback, it might recover at some point.
Currently, the dividing line between strength and weakness remains above 1130.
Once the market pushes up to this level, it may face a pullback; for now, it is still in a consolidation phase.
Especially on the hourly level, the bottom is gradually rising.
If there is a rebound tonight, it would be a good opportunity for short positions.
Above 1130, one can start to speculate on short positions.
If the rebound is not strong, then after a pullback, one can consider trying long positions.
Ethereum has really been interesting these past couple of days, oscillating around 4300.
It truly is hard to grasp. It can't go up, nor can it go down.
Whether going long or short, it makes you feel uncomfortable.
Therefore, it’s best to operate within the upper and lower bounds of the consolidation zone:
If it approaches 4500 tonight, consider going short.
If it is close to the lower bound of the consolidation zone around 4250, one can also consider going long.
Other positions are not under consideration for now.
In this range-bound market, with back-and-forth price movements, the price hasn’t changed much, and losing positions is a waste.
During this phase, the most common mistake everyone makes is not understanding the market's rhythm.
Blindly chasing uptrends and selling on downtrends; once the positions are gone, nothing is left.
