$BTC
It's hard to have a unidirectional market on weekends, is the market consolidating near the 120,000 mark?
It is expected to fluctuate between 114,000 and 119,000 for a few days before choosing the next direction.
This wave of increase, although lacking significant positive drivers, belongs to the "supply contraction driven" market.
Currently, it is close to the key 120,000 round figure, which requires some time to gather strength.
From the 4-hour level, there are signs of building a central axis.
Since breaking through 110,000, it has risen nearly 10,000 points, making the possibility of continuing to rise sharply in the short term relatively low; it is more likely to fluctuate for a few days or even 1-2 weeks before taking action.
From the daily and weekly charts, it has entered a new main upward trend, the weekly trend has been active for 3 weeks, and the monthly trend is running into the 4th month.
Regarding ETH, attention should be paid to risks; it needs to stabilize above 3,000 before observing whether there will be a second phase of increase. At the same time, there is a gap around 2,800 below, and the time to fill it is uncertain.
The current market has entered a consolidation phase, with short-term fluctuations narrowing to the 1,160-1,180 range, and the technical aspects are in a repair cycle. It is expected that the weekend will mainly see narrow fluctuations, making it hard to have a unidirectional market.
Today's thoughts:
BTC near the 1,180 resistance level can try short positions with light holdings.
If it falls to the 1,160 support level, one can gradually position long positions, but pay attention to controlling the position.
For those without positions, it is advisable to enter at low points, take profits in a timely manner, and avoid holding excessively.
After all, it's close to the 120,000 mark; even if it rises to 130,000-140,000 later, the space is limited, and there may be adjustments and fluctuations in between.
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