The market will never stay the same forever; trading is always about going with the trend.


The early morning attempt to buy long was just a test of the market, and when the trend reversed in the afternoon, it was necessary to admit the mistake and change direction promptly.
There's no need to worry about short-term misjudgments; gains and losses in the crypto world are normal.
Understanding how to read the market, cut losses in time, and adjust the rhythm is the key to long-term survival.
Don't stubbornly go against the trend, don't greedily chase highs, give up attachments, and follow the mainstream of the bears.

Today’s overall market surged early but faced resistance, with Bitcoin dropping from 79,485 in the morning to 77,465 in a one-way decline, and Ethereum from 2,347 to a high of 2,403, attempting to push higher and refresh local highs.
However, the bulls lacked sufficient momentum, faced obstacles, and then oscillated back down without continuing the strong breakout trend.
The early session saw repeated sideways consolidation at high levels.

In the early morning, Bitcoin surged to a high of 79,485 but failed to break through multiple attempts.
Subsequently, the market turned downward.
The current chart has already broken below the short-term key support level from the early session, and the 4-hour indicators are collectively turning negative.
The rebound and decline pattern is obvious, and the bullish support has been completely lost.
Now, the market's rebounds are just weak recoveries; if the rebound does not continue, it’s a classic shorting opportunity!

Ethereum's entire movement is linked to Bitcoin’s trend.
In the early session, it followed the surge, faced resistance, and fell back.
Overall, its trend is weaker than Bitcoin’s, with no independent rebound pattern.
The support level in the early session has now been effectively broken, forming a short-term bearish resonance, and the market’s ability to hold is very poor.

Bitcoin: 78,200 bearish, target: 76,300
Ethereum: 2,350 bearish, target: 2,210
BTC-0,16%
ETH-0,46%
View Original
post-image
post-image
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.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin