⌛️Market Psychology: Cautious and Diverging
💡The cryptocurrency market has experienced a turbulent trading week, especially with Bitcoin (BTC) which has at times struggled around key support levels. Overall, market sentiment is showing a clear divergence:
* The Bulls are trying to defend the current price levels, hoping for a recovery based on oversold technical indicators (such as RSI being low).
* Bears remain dominant in the short term, warning of the end of the bullish cycle and the possibility of deeper declines (some experts have mentioned the $95,000 zone or even $70,000).
🔍 Perspective on Bitcoin ($BTC )
After a strong decline, BTC has shown signs of a slight recovery at the end of the weekend, surpassing some minor resistance levels and is currently trading around $110,000.
* Main trend: Sideways in a narrow range is the most likely scenario in the last two days of the weekend due to typically reduced trading volume.
* Important Resistance Level:
* Short term: Around $111,000 - $112,000 (if surpassed, may retest the $115,000 zone).
* Important Support Level:
* Need to monitor: The $107,000 - $105,000 zone. If BTC cannot hold this level, selling pressure may increase, pushing prices to lower zones.
💎 Altcoin - Opportunities and Risks
Major Altcoins like Ethereum (ETH), Solana ($SOL ), XRP... tend to fluctuate with BTC but can also show independent strength if there is positive news from the ecosystem.
* ETH($ETH ): Still maintains relative stability. Investors should closely monitor whether ETH can hold above $3,800 - $3,900.
* Altcoins in general: There may be local spikes (pump) due to low trading volume over the weekend, but caution is needed as these increases are often not sustainable.
⚠️ Weekend Trading Strategy
The last two days of the weekend are often a time when the market experiences sudden strong fluctuations (flash crash/pump) due to low liquidity and traditional banks being closed.
* Priority: Caution and limit large trades.
* For Traders:
* Set a tight Stop-loss order.
* Should take partial profits when reaching short-term profit targets.
* Avoid using excessively high leverage.
* For Holders:
* This could be an opportunity to accumulate (DCA - Dollar Cost Average) at strong support zones if you believe in the long-term potential of the project.
* Be patient and do not panic in the face of short-term fluctuations.
❗ Important Note: Cryptocurrency is a high-risk asset and has not been recognized by Vietnamese law as a means of payment. This post is for reference only and is not investment advice.
💶 Wishing you safe and effective trading over the weekend!
#BTC #bitcoin #BinanceSquare #crypto #altcoins
