This position has a small purchase of $SUI $ADA light position
Either it goes directly up to 96-98 here, or it pulls back to 85 here The latter will provide a heavy position opportunity The former is just to take a small profit with a light position and then short
This kind of bottom reversal, many newcomers in various channels probably haven't experienced it March 2023 At that time, Bitcoin was around 15,000 at the end of December 2022, and during the Spring Festival in January 2023, the market rose, peaking at 25,000, then began to pull back in late February Silvergate was a small bank in the United States at that time, known for being friendly to the crypto industry, with many funds entering and exiting the crypto space using this bank Then this bank went bankrupt, causing panic, and the U.S. government refused to provide assistance (at that time implementing the chockpoint 2.0 operation, which was hostile to the crypto space) Also going bankrupt at that time was First Republic Bank, another regional bank Bitcoin directly dropped from 25,000 to 18,500, about a 30% drop from the peak, and altcoins fell even more At that time, everyone also directly saw a bear market, returning to 15,000 for continued oscillation, but eventually, at 18,500, there was an extreme V reversal, and it pushed towards 30,000 again After pushing towards 30,000, it oscillated at a high level for a while in May and June, then fell again in August 18, and only took off after consolidating for two months If the situation is somewhat similar, and a comparison can be made 1. 78,200 is the bottom, which can be basically confirmed, and it is difficult to break below 2. After a bottom reversal, the market does not directly rise continuously; there is a chance of falling again after consolidating at a high level 3. Before truly taking off, there should be a period of sideways movement, and only after extreme tightening of volatility can it take off again (this was the case after August 18 and after May 5)
Weekend no-volume contract game, waiting for the opening to determine the direction
It's still a no-volume contract game market this weekend, currently
Operating above the 85 support level
Doomsday vehicle
On Sunday afternoon, pulling the market alone gave the illusion that 'it seems to be working again/the ether is hard again', and then, as expected, it immediately broke down, falling below 2200 again
If the price maintains in this range, it's highly likely that ETH will have an upward gap (closing price 2233 VS current price 2190); BTC will have a downward gap (closing price 84650 VS current price 85500)
The probability of BTC filling the gap is still very high, so the probability of a pullback to 84500 during Sunday night's trading to fill the gap is very large (and a 500-point drop is insignificant). If it doesn't fill immediately, if it goes up to 88-91 and then drops, it will likely also fill downwards.
Next three scenarios 1. Retrace to 84 means the retracement is over (the intraday pullback that occurred on Saturday), continue to rise to around 90 2. Retrace to 82 and then continue to rise 3. New low to 76k and then bullish divergence, break the low and rebound (the most unpleasant and also the least likely scenario)
At four o'clock in the afternoon here, I don't know which genius freed up about 1400 of $BTC Currently, there aren't many sell orders in the spot market, with a small number of limit orders continuously pushing it up.