8.8 Midday Trading Thoughts
Looking back at Friday’s market, the Big Cake rose from 64128 to around 65358, then stabilized and moved into a range. Ethereum first dipped to 1893, then rebounded to 1943, with frequent switching between bulls and bears. Yesterday’s advice from Ah Yue to short was spot-on, and the timing was well handled. In the recent market, we’ve been swinging back and forth by several hundred points in a wide-range consolidation. However, we strictly followed the strategy: positioning three shorts and one long. All four attempts were winners, and we captured over 2300 points in profit. In a ranging market, don’t chase or kill—only trade certain opportunities. Trading is like farming: you can’t rush, and you can’t be lazy. Every time you lock in profits is a reward for patience; every retracement is a test of risk control. Don’t complain that the profit is small—compounding is the true weapon. The market won’t let disciplined people down. If the direction is right, you don’t fear the road being long. This round has successfully taken profit—hold the rhythm—and we’ll fight again on the next order.
From a daily chart perspective, after the Big Cake touched recent highs, the upside momentum has clearly slowed. Current price is repeatedly stalling around the 65000 level. Overhead pressure is heavy; several attempts to push higher left relatively long upper wicks, indicating that selling pressure cannot be ignored. The three Bollinger Bands are starting to flatten, and the market has entered a short-term phase of consolidation and stalemate. The overall structure gives the suspicion of forming a double top, and the rebound strength is weakening step by step, with insufficient confidence from the bulls. If the market cannot subsequently make a strong breakout above the overhead resistance area, then a pullback to test support from below is a high-probability scenario.
From the four-hour structure, the Big Cake’s rebound has already reached a high point and clearly can’t push any further. Candles repeatedly closed with long upper wicks, showing that overhead selling pressure is severe, and the bulls’ efforts have been repeatedly pushed back. The price action reveals fatigue, and the rebound strength is gradually declining. If a quick breakout with convincing volume does not happen, bull confidence can easily loosen, and the market is likely to play out a pullback scenario.
Trading bias: Prefer selling at rebound highs. In a ranging market, observe more and act less, waiting for confirmation signals before entering.
Trading suggestions:
Bitcoin: Short around 65500, target around 63500.
Ethereum: Short around 1930–1950, target around 1850
Looking back at Friday’s market, the Big Cake rose from 64128 to around 65358, then stabilized and moved into a range. Ethereum first dipped to 1893, then rebounded to 1943, with frequent switching between bulls and bears. Yesterday’s advice from Ah Yue to short was spot-on, and the timing was well handled. In the recent market, we’ve been swinging back and forth by several hundred points in a wide-range consolidation. However, we strictly followed the strategy: positioning three shorts and one long. All four attempts were winners, and we captured over 2300 points in profit. In a ranging market, don’t chase or kill—only trade certain opportunities. Trading is like farming: you can’t rush, and you can’t be lazy. Every time you lock in profits is a reward for patience; every retracement is a test of risk control. Don’t complain that the profit is small—compounding is the true weapon. The market won’t let disciplined people down. If the direction is right, you don’t fear the road being long. This round has successfully taken profit—hold the rhythm—and we’ll fight again on the next order.
From a daily chart perspective, after the Big Cake touched recent highs, the upside momentum has clearly slowed. Current price is repeatedly stalling around the 65000 level. Overhead pressure is heavy; several attempts to push higher left relatively long upper wicks, indicating that selling pressure cannot be ignored. The three Bollinger Bands are starting to flatten, and the market has entered a short-term phase of consolidation and stalemate. The overall structure gives the suspicion of forming a double top, and the rebound strength is weakening step by step, with insufficient confidence from the bulls. If the market cannot subsequently make a strong breakout above the overhead resistance area, then a pullback to test support from below is a high-probability scenario.
From the four-hour structure, the Big Cake’s rebound has already reached a high point and clearly can’t push any further. Candles repeatedly closed with long upper wicks, showing that overhead selling pressure is severe, and the bulls’ efforts have been repeatedly pushed back. The price action reveals fatigue, and the rebound strength is gradually declining. If a quick breakout with convincing volume does not happen, bull confidence can easily loosen, and the market is likely to play out a pullback scenario.
Trading bias: Prefer selling at rebound highs. In a ranging market, observe more and act less, waiting for confirmation signals before entering.
Trading suggestions:
Bitcoin: Short around 65500, target around 63500.
Ethereum: Short around 1930–1950, target around 1850