The market saw a plunge this morning, with trading volume diving straight to the 87,000 level. Although some institutions have picked up some goods at the bottom, the panic sentiment still lingers at a low level, and the selling pressure from large holders has not eased. The market sentiment remains quite fragile.
Next, it is expected to be a weak rebound + bottoming rhythm. The price may first try to test the resistance zone of 88200-89177. If the trading volume does not keep up, it will likely turn back down, fluctuating between 86542 and 88200.
Overall, the rebound height is limited, and it's basically impossible to stabilize above 89192; the weak pattern cannot be changed in the short term.
Operating strategy: A light short position can be established in the range of 88200-89000, targeting the two levels of 86542 and 85292, with a stop-loss at 89300.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
22 Likes
Reward
22
6
Repost
Share
Comment
0/400
YieldChaser
· 12-01 09:55
87000, here we meet again. This back-and-forth pump is really tormenting.
Institutional catch a falling knife feels like just a show on paper; the panic selling hasn’t even come out yet.
I agree with the short-term buy the dip, but if it drops further to 85292, I will have to buy the dip.
View OriginalReply0
RamenStacker
· 12-01 04:43
87000 can't hold, this Rebound is likely to die in the womb again.
---
Even with institutions catching a falling knife, retail investors are still dumping, it's hilarious.
---
I'm tired of this term 'grinding the bottom', to put it bluntly, it just means there's no direction.
---
89192? You're thinking too much, haha.
---
Again with the Light Position short order, why do I feel like this routine loses every time?
---
Panic hasn't set in yet, is the one picking up at the bottom truly brave or just foolish?
---
Seeing 86500, I'm no longer superstitious.
---
The Trading Volume is so sparse, even if it rises, it lacks soul.
View OriginalReply0
digital_archaeologist
· 12-01 02:53
It has broken 87000 and still says institutions are buying? Wake up everyone, this is just a trap.
View OriginalReply0
QuietlyStaking
· 12-01 02:39
If institutions are going to catch a falling knife, so be it. It would really mean something if they can hold above 89192.
View OriginalReply0
StableGeniusDegen
· 12-01 02:38
It's the same old trap of grinding the bottom again; 87,000 can't even break the psychological defense line. If you ask me, it's just the institutions snacking.
View OriginalReply0
LucidSleepwalker
· 12-01 02:35
Here we go again with the bottom fishing, this wave is really uninteresting, the volume just won't pick up
Oh my, the institutions are accumulating at the bottom while we're in trouble, same old tricks
That 89200 barrier is just a paper tiger, can't break through
Short orders can be taken for a quick play, but you need to prepare mentally, bro
Those entering the market now are all gamblers, it's just annoying to watch
#数字货币市场回升 Morning Observation:
Good morning everyone!🌞🌞
The market saw a plunge this morning, with trading volume diving straight to the 87,000 level. Although some institutions have picked up some goods at the bottom, the panic sentiment still lingers at a low level, and the selling pressure from large holders has not eased. The market sentiment remains quite fragile.
Next, it is expected to be a weak rebound + bottoming rhythm. The price may first try to test the resistance zone of 88200-89177. If the trading volume does not keep up, it will likely turn back down, fluctuating between 86542 and 88200.
Overall, the rebound height is limited, and it's basically impossible to stabilize above 89192; the weak pattern cannot be changed in the short term.
Operating strategy: A light short position can be established in the range of 88200-89000, targeting the two levels of 86542 and 85292, with a stop-loss at 89300.
$BTC $SOL