I reviewed the BTC and ETH trends late at night and found this current market move quite interesting.
Looking at the hourly chart, the price is hovering around the 92600 pivot, moving back and forth. The candlesticks are alternating between bullish and bearish, with neither side willing to give in. The good news is that the lower band support is still holding strong and hasn't been broken for now. The Bollinger Bands' middle band is moving sideways, and the upper and lower bands are getting closer and closer—this kind of narrowing pattern usually means what? A breakout in either direction is coming soon.
Personally, I think this consolidation looks more like a digestion phase after the previous rally. Two key levels to watch:
On the upside, if it can break out above the 93600 upper band with strong volume, then the space opens up and we can expect further gains. On the downside? If it falls below 91500 and can't recover, the trend might be in trouble.
To be honest, I don't really dare to chase at this level. The risk of a pullback is there, and in the short term, it's still mainly range-bound. I suggest waiting and watching for now. If it really breaks below 92000 and holds there, you might consider trying a small short position, with a close eye on the 90000 round-number support.
Don't rush your trades—wait for the market to pick a direction.
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NewPumpamentals
· 12-06 20:23
This 92600 level has been consolidating for so long, feels like it's about to break any time now—just depends on whether it's up or down.
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StakeHouseDirector
· 12-06 20:09
The 92600 level is indeed experiencing some consolidation, but I think this move is more indicative of distribution.
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PuzzledScholar
· 12-05 08:54
92600 keeps oscillating back and forth. This round is really annoying. Now it's just a matter of whether it can break through.
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ForkMaster
· 12-03 22:50
92600 back-and-forth grinding, I'm familiar with this rhythm. Last time during the fork arbitrage, I got trapped just like this, haha.
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MintMaster
· 12-03 22:41
92600 has been hovering for so long, it's either going to break out sharply or collapse directly. Forget about "waiting and seeing," the market doesn't play by the rules.
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Blockblind
· 12-03 22:32
92600 is indeed a frustrating level; when the Bollinger Bands narrow, it's usually not a good sign.
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0xOverleveraged
· 12-03 22:26
This 92600 level has been sluggish all day. Where is the promised direction? Is this what they call a "choice"?
I reviewed the BTC and ETH trends late at night and found this current market move quite interesting.
Looking at the hourly chart, the price is hovering around the 92600 pivot, moving back and forth. The candlesticks are alternating between bullish and bearish, with neither side willing to give in. The good news is that the lower band support is still holding strong and hasn't been broken for now. The Bollinger Bands' middle band is moving sideways, and the upper and lower bands are getting closer and closer—this kind of narrowing pattern usually means what? A breakout in either direction is coming soon.
Personally, I think this consolidation looks more like a digestion phase after the previous rally. Two key levels to watch:
On the upside, if it can break out above the 93600 upper band with strong volume, then the space opens up and we can expect further gains. On the downside? If it falls below 91500 and can't recover, the trend might be in trouble.
To be honest, I don't really dare to chase at this level. The risk of a pullback is there, and in the short term, it's still mainly range-bound. I suggest waiting and watching for now. If it really breaks below 92000 and holds there, you might consider trying a small short position, with a close eye on the 90000 round-number support.
Don't rush your trades—wait for the market to pick a direction.