$BTC $ETH In a blink, it’s already vacation. On Tuesday, the big BTC breakout above 84300—shorting from above the 84300 level as provided by the Dabi—was once again an extreme validation. The short-term rebound stops here. During the session, once we entered short positions laid out above 84300, the price started pulling back all the way down. In the short term, we directly grabbed over a thousand points. This is the advantage of “pinning” the right levels in a choppy, range-bound market. Don’t rush your entry—levels are the decisive edge. The better the level, the less panic you’ll have in your positions, and the more you’ll be able to hold patiently.
Structurally, after the day chart’s cross star, the likely turnaround window is basically about to arrive. We originally expected a turn on Monday and Tuesday, but the timing seems to be slightly late. Still, the later it comes, the larger the space it can deliver in one direction. Looking at the monthly chart overall, our bullish thinking hasn’t changed much. On smaller timeframes, after last night’s dip, price has remained weak throughout, and the overall rebound space is still not big. The current rebound strength is far from enough—it’s still weak in terms of rhythm. Rebound first to short, then after a pullback reaches the proper level, continue long. Tonight has ADP data support, but personally I expect the market to remain range-bound.
On Wednesday night, watch BTC for a short above 84300; the target is to watch below 82700. For the downside, look for longs around 82000–82500, with a target of around 84000+.
Structurally, after the day chart’s cross star, the likely turnaround window is basically about to arrive. We originally expected a turn on Monday and Tuesday, but the timing seems to be slightly late. Still, the later it comes, the larger the space it can deliver in one direction. Looking at the monthly chart overall, our bullish thinking hasn’t changed much. On smaller timeframes, after last night’s dip, price has remained weak throughout, and the overall rebound space is still not big. The current rebound strength is far from enough—it’s still weak in terms of rhythm. Rebound first to short, then after a pullback reaches the proper level, continue long. Tonight has ADP data support, but personally I expect the market to remain range-bound.
On Wednesday night, watch BTC for a short above 84300; the target is to watch below 82700. For the downside, look for longs around 82000–82500, with a target of around 84000+.
