$BTC 9.29 Morning (Big Cake, Ether) Thoughts $ETH
Trading right to the end tests not the ability to predict the market, but the ability to hold one’s mindset steady through back-and-forth volatility, and to see the determination in the long vs. short game. Yesterday, when the market was still at a low level, I told everyone that there are two possible paths for the price to evolve. Looking back now, it’s clearly following the first scenario: it first harvests the liquidity below, then rebounds to clear out the short positions above. The liquidity above is mostly concentrated around 85,000. So in my view, after last night’s spike to around 84,300, the price fell back to around 84,500 and has been ranging—this rebound has not finished yet, and there is still room for the market to continue upward.
Late yesterday, the low point dropped to 82,500 and rebounded quickly; the high point reached 84,300 again. After hitting the high, it quickly pulled back with a sharp move, then fell again to below the hourly line’s mid-band—around 83,000. The subsequent rebound has remained not very strong, staying below 84,000 throughout. From the position on the hourly chart, the market is currently above the Bollinger mid-band, where the tug-of-war is intense and the long/short battle is very evident. However, overall the market is still biased to the upside: the rebound demand is quite strong, and the support from the lower band on the 4-hour chart is still effective. You can rely on the lower band to trade long. The KDJ indicator has a golden cross opening upward, and the mid-band pressure level is around 84,000. For short-term profit-taking, the first target is to look at 84,000; afterwards, there may be an attempt to break toward the previous high around 85,000. For now, the operating approach should mainly be to go long on pullbacks with a low-bias.
#Chainlink上线CCIP2支持企业验证 #QNT从日内高点回落逾40% #韩股Kospi指数跌2.7%三星SK海力士跌超5%
Tuesday Morning Trading Strategy
Big Cake: Long around 83,300–82,800, target 84,800
Ether: Long around 2,670–2,680, target 2,730
Trading right to the end tests not the ability to predict the market, but the ability to hold one’s mindset steady through back-and-forth volatility, and to see the determination in the long vs. short game. Yesterday, when the market was still at a low level, I told everyone that there are two possible paths for the price to evolve. Looking back now, it’s clearly following the first scenario: it first harvests the liquidity below, then rebounds to clear out the short positions above. The liquidity above is mostly concentrated around 85,000. So in my view, after last night’s spike to around 84,300, the price fell back to around 84,500 and has been ranging—this rebound has not finished yet, and there is still room for the market to continue upward.
Late yesterday, the low point dropped to 82,500 and rebounded quickly; the high point reached 84,300 again. After hitting the high, it quickly pulled back with a sharp move, then fell again to below the hourly line’s mid-band—around 83,000. The subsequent rebound has remained not very strong, staying below 84,000 throughout. From the position on the hourly chart, the market is currently above the Bollinger mid-band, where the tug-of-war is intense and the long/short battle is very evident. However, overall the market is still biased to the upside: the rebound demand is quite strong, and the support from the lower band on the 4-hour chart is still effective. You can rely on the lower band to trade long. The KDJ indicator has a golden cross opening upward, and the mid-band pressure level is around 84,000. For short-term profit-taking, the first target is to look at 84,000; afterwards, there may be an attempt to break toward the previous high around 85,000. For now, the operating approach should mainly be to go long on pullbacks with a low-bias.
#Chainlink上线CCIP2支持企业验证 #QNT从日内高点回落逾40% #韩股Kospi指数跌2.7%三星SK海力士跌超5%
Tuesday Morning Trading Strategy
Big Cake: Long around 83,300–82,800, target 84,800
Ether: Long around 2,670–2,680, target 2,730
