BTC/ETH Weekend and Last Week’s Market Outlook

This morning, BTC surged to 71,714 but did not break above 70,900. With the weekend over and only a few days until the Chinese New Year, the market is becoming increasingly frantic, as everyone has seen—there have been wild surges and drops over the weekend!

The short-term rally at the 5/15-minute level was too aggressive, likely causing some delayed upward movement. We predict that the weekend’s upper boundary will be limited by insufficient volume to push higher, so after a violent short-term spike, a pullback to test support levels is expected. The market is currently in a phase of free retesting, with major players waiting and retail traders leading the way!

Both long and short opportunities exist. The chance for shorts seems to have been temporarily missed, and the current pullback is too low to attract significant action, so no clear entry signals are present.

For BTC, focus on the 64,488–66,288 range over the weekend. If the price drops into this zone, pay close attention to whether volume increases. If volume does not pick up, and there’s no entry signal, you can consider opening a first position or entering the spot market on a subsequent move.

For ETH, watch the 1,866–1,930 range, following the same logic as Bitcoin.

Aggressive traders should monitor Bitcoin at around 66,750 ±150 USD and ETH at around 1,970 ±10 USD.

For shorts, wait until Monday morning and the European-Asian trading session to see if there are double or triple tops in the short term, then decide based on the signals.

Currently, after the short-term explosive move at BTC 5/15-minute chart, it’s not advisable to take a long-term position. The 1-hour chart shows a critical point between bulls and bears, with bulls slightly favored. The 2-hour and 4-hour charts are temporarily assessing whether a double bottom can form and how deep the retest will be. These factors will determine the strength of the bears and the subsequent rebound potential.

It’s expected that after intense negotiations, a wave of bullish trapping will brew on the 1h/2h/4h charts before the Chinese New Year, with possibly another sneak attack during the holiday period. The market is highly volatile, so avoid making reckless trades without a stop-loss plan and stay flexible as the situation develops!