BTC evening market commentary
After BTC surged to a 66,924 high point, it faced pressure and pulled back. At this stage, the market has entered a high-level range-bound consolidation phase. Price is moving along the middle Bollinger Band, with an overall slowdown in the pace of上涨. In the short term, long and short sides have entered a game of tug-of-war.
The near-term overhead resistance lies in the 65,800—66,750 range. Support is around 64,894. As the momentum of the high-level rally weakens, do not chase price to go long. If the market rebounds into resistance, consider a small-position short to test for a pullback; if selling pressure eases and support holds, then look to consider a low-buy (long) for continuation.
The chart is choppy and prone to frequent intraday spikes, with short-term wicks appearing often. When entering positions, be sure to strictly control position size, set stop-loss orders, and wait for a breakout from the range before following the direction.
Trading suggestions
BTC: sell/consider short on rebounds in the 66,000-66,500 zone; target 65,000; if it breaks through, watch for 64,500
ETH: 1,940-1,980 to place short/consider entries; target 1,880; if it breaks through, watch for 1830#BTC #ETH
#BTC
After BTC surged to a 66,924 high point, it faced pressure and pulled back. At this stage, the market has entered a high-level range-bound consolidation phase. Price is moving along the middle Bollinger Band, with an overall slowdown in the pace of上涨. In the short term, long and short sides have entered a game of tug-of-war.
The near-term overhead resistance lies in the 65,800—66,750 range. Support is around 64,894. As the momentum of the high-level rally weakens, do not chase price to go long. If the market rebounds into resistance, consider a small-position short to test for a pullback; if selling pressure eases and support holds, then look to consider a low-buy (long) for continuation.
The chart is choppy and prone to frequent intraday spikes, with short-term wicks appearing often. When entering positions, be sure to strictly control position size, set stop-loss orders, and wait for a breakout from the range before following the direction.
Trading suggestions
BTC: sell/consider short on rebounds in the 66,000-66,500 zone; target 65,000; if it breaks through, watch for 64,500
ETH: 1,940-1,980 to place short/consider entries; target 1,880; if it breaks through, watch for 1830#BTC #ETH
#BTC