Since the last surge in the market, there have been several days of consolidation. We have been closely tracking the market trends and have consistently emphasized that the market would experience fluctuations during this period. The upper resistance for Bitcoin is between 26500-27000, and for Ethereum it is between 1700-1730. The lower support for Bitcoin is between 25700-25500, and for Ethereum it is between 1620-1600. The overall market trend has been within our expectations.
Why have the recent trades not been particularly ideal? We have been unable to secure significant profits, and small profits have been quite agonizing. After analyzing the market trends over the past two days, it is evident that the most active market fluctuations occur in the early morning. Our trading strategies are often implemented during periods of market consolidation, and most of the time we cannot endure the agony and hastily close our positions. When the market starts to move, we hesitate, questioning whether our direction is correct, whether there will be further declines, how high the rebound might go, and other factors and concerns. Influenced by daytime trading, subjective opinions are formed, leading to a loss of objective judgment in market analysis.
Currently, due to posting restrictions, we can only provide strategies based on daytime market trends. Real-time developments may differ, so it is important for everyone to be able to adapt promptly. Those who want real-time updates can follow our public account!
For the near future, we will continue to adopt a conservative approach in trading mainstream coins, placing orders in the upper resistance and lower support areas to mitigate risks. This will help us navigate through occasional market fluctuations without affecting our trading strategies.
Continued bullish view on Bitcoin: Go long around 26200 on pullbacks, set defense at 25800, target 26800-27000.
Similar approach for Ethereum: Go long around 1660 on pullbacks, set defense at 1645, target 1680-1700.
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