$ETH Weekend Chat

This week was another week of sharp declines, with signs of bottoming only appearing in Friday morning trading. Currently, the market is consolidating with reduced volume, and both bulls and bears are holding back. Given the huge drop last weekend, there’s no volume participation at the moment; everyone is watching. But this is exactly the intention of the market makers—no one is operating, so the main players can do whatever they want!
With the lowest cost and the least amount of chips, they can create extreme volatility with sharp rises and falls, freely plundering market liquidity.
Right now, the consolidation is not suitable for trading. Don’t buy in a rising market, and be patient with short positions, waiting for Monday to see if there are any signs of a top or a spike as discussed yesterday.
Last weekend’s big crash has already caused widespread panic. The big drop that needed to happen has already happened this week, and the bottoming has also been completed this week.
Whether the market will have a Spring Festival red envelope rally depends on next week—stay tuned.
Don’t expect too much, but as soon as volatility picks up, there will be plenty of room to take profits.
BTC support/resistance levels: 74,450 / 70,900 / 64,500 / 57,850
Yesterday’s strategy remains valid: when the market drops sharply, look for long opportunities.
ETH support/resistance levels: 2,225 / 1,840 / 1,600 / 1,385
Follow the Bitcoin (BTC) strategy.
The operational ideas given yesterday still apply, as the market has hardly changed since yesterday and today. After some slight volatility last night, we are still standing still!
Trading advice: Take opportunities with stop-loss orders. No stop-loss, no trading!
‍#当前行情抄底还是观望？