Good evening, folks! This weekend has been pretty quiet. Bitcoin and Ethereum tested the bottom of the previous range yesterday and started to rebound today, now they're testing near the top of the range. Trading volume during the daytime this weekend hasn't been huge, so let's see if we get a big move tonight that breaks out of the range. As long as this bottom holds, we could see a big bullish candle.
I'm setting up some light short orders at a few resistance levels tonight, and for longs, I'll be placing light orders at a few support levels below. For those who like to play the right side, wait for a strong breakout above the range's top or a breakdown below the range's bottom before diving in, and make sure to manage your stop losses. If you're worried about missing a big move out of this range, I suggest going light at the range's top and bottom so you have room to average down if the direction reverses.
Currently, going short in this consolidation zone isn't advised; a lot of people are trying to short, but the price isn't dropping. This week’s weekly chart shows a bullish candle, and the smaller timeframes haven't weakened their bullish trend. It feels like the market makers will push it up a bit more before heading down. Keep your positions light to have room for averaging down without missing out on the action!
Market analysis for tonight:
For BTC, keep an eye on the top of the consolidation zone at 78500 and the bottom at 77350 tonight. If it can't break the top, the smaller timeframes will still pull back. Only a strong breakout here will lead to a continuation upward; targets are around 79400-81500-83000 for shorts!
If it fails to break the bottom of the consolidation zone tonight, the smaller timeframes will likely bounce. A strong breakdown followed by a failed bounce is what will lead the price downward; look to go long around 76510-74900-73670!
For ETH, keep an eye on the top of the consolidation zone at 2335 and the bottom at 2300 tonight. If it can't break the top, the smaller timeframes will pull back. Only a strong breakout here will lead to a continuation upward; targets are around 2380-2420-2460 for shorts!
If it can't break the bottom of the consolidation zone tonight, the smaller timeframes will still bounce. A strong breakdown followed by a failed bounce will keep the market trending down; look to go long around 2260-2220-21750!
BNB was relatively weak yesterday, breaking through the consolidation zone without a bounce. Tonight, watch the top of the consolidation zone at 633; if it can't break through, the smaller timeframes will still pull back. Only a strong breakout here will lead to a continuation upward; targets are around 640-655-664 for shorts!
If it can't break the top of the consolidation zone tonight, the smaller timeframes will still pull back; look to go long around 625-616-605!
Keep an eye on the top of the consolidation zone at 86.8 for SOL tonight. If it can't break through, the smaller timeframes will still pull back. Only a strong breakout at this level will lead to a continuation upward; targets are around 88-90-93 for shorting!
If it can't break the top of the consolidation zone tonight, the smaller timeframes will still pull back; look to go long around 95-83-81!
【Daily updates on market analysis and precise entry points for both longs and shorts, just for your reference. Manage your positions wisely. A light position means 0.5% of your portfolio, and for resistance or support levels, stagger your entries with no more than 1% at each level. Use 100x leverage but don't exceed 2% of your total portfolio to leave room for averaging down. For heavier positions, look for previous highs or lows on the 1-2 hour charts for stop losses, or set fixed stops: BTC around 1500u, ETH around 30u, and 20% off fees with invitation code: BNB789】