Recently it's been quite boring to see everyone posting abstract texts. The market is fluctuating around 1065-1035 to make some coffee money. However, it has entered a phase of reduced volume.
First, let's talk about BTC: After creating lower highs and lower lows, it has entered a downward channel. 1035 and 1015 are both very tempting positions to go long with small stop losses and a large risk-reward ratio. Even if you take a loss, you can still buy again lower down.
When trading contracts, the price point is more important than anything else. Do not bet on breakouts before resistance levels and do not bet on breakdowns before support levels. Just trade normally.
Looking at the heat map, there's resonance around 1035 with liquidity attraction. Above, there's also accumulation of short liquidity, leaning more towards fluctuations.
If the longs are cleared at 1035 without further testing 1015, then the shorts should be careful. Now we are in a phase of reduced volume and fluctuations, and there might be news on Friday that could lead to liquidation around 108.
If 1015 breaks down, it would be a pullback towards the 95 level on the weekly chart, and there's no need to hold on to the contract.
But! You can buy some spot and hold it. I've also stocked up on some spot at these long positions, like ETH and BNB, while observing SUI. Those who understand, understand.
The recent range fluctuations of ETH have been quite comfortable. Whether it's on the four-hour chart or smaller timeframes, it's a standard fluctuation. I really enjoy making short trades like this; for me, it's steady happiness. ☺️
The high-level consolidation of Ethereum looks quite nice, but I cannot bet on breakouts in contracts. If it breaks 2570, I could short from the right side, but 2548 has reached support, so the profit isn't significant anymore.
The large-scale fluctuation range of 2375 hasn't broken down, so it remains in consolidation. Just trade as usual.
If BTC enters a liquidation phase and further tests the weekly level, ETH would be my first choice for altcoin spot trading. If the exchange rate is favorable, it could be worth a shot.
I still don't recommend trading unstable altcoins. The market lacks direction, but playing with a small position is okay.
I'll stop writing here. If you have questions, feel free to leave a message in my live stream. Today, I'll try connecting a network cable to see if it improves the situation a bit. Recently, as the semester ends, I have a few days left to finish my assignments, and then I can stabilize my live streaming.