Bitcoin bulls and bears are constantly switching positions.
The current convergence pattern on the $BTC 12-hour timeframe has some momentum, but volatility on the 1-hour timeframe is relatively high, so it’s still difficult to determine the short-term direction.
Next, the key thing to watch is whether the bulls can maintain their strength on the 12-hour timeframe. Whether we catch this long trade isn’t really that important; what matters is how strong the bulls actually are.
If the bulls really are strong, there will definitely be pullbacks and retracements later on. We can look for an entry opportunity then.
Last night, I saw a whale open a short position near 2311 on ETH. It seems the market is under considerable pressure right now, though I don’t know whether they’ve closed the position.
I haven’t opened a position yet. I’m planning to keep watching for a while. Better safe than sorry—it’s not necessary to open a position every day or at any moment. Opening one trade a month is perfectly fine too.
The current convergence pattern on the $BTC 12-hour timeframe has some momentum, but volatility on the 1-hour timeframe is relatively high, so it’s still difficult to determine the short-term direction.
Next, the key thing to watch is whether the bulls can maintain their strength on the 12-hour timeframe. Whether we catch this long trade isn’t really that important; what matters is how strong the bulls actually are.
If the bulls really are strong, there will definitely be pullbacks and retracements later on. We can look for an entry opportunity then.
Last night, I saw a whale open a short position near 2311 on ETH. It seems the market is under considerable pressure right now, though I don’t know whether they’ve closed the position.
I haven’t opened a position yet. I’m planning to keep watching for a while. Better safe than sorry—it’s not necessary to open a position every day or at any moment. Opening one trade a month is perfectly fine too.
