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Jiahao Friday Thinking Sharing
Yesterday, the overall market maintained narrow fluctuations, and the market volatility was in line with expectations. The trading ideas provided were almost fully realized. Bitcoin offered nearly 2000 points of operational space, while Ethereum also provided a hundred-point range.
The key resistance at the 70,000 level for Bitcoin remains effective. Recently, the rebound strength has continued to weaken, and the overall weak market pattern has not changed. On the hourly level, the price has fallen back from the upper Bollinger Band to below the middle band, with trading volume shrinking accordingly. Selling pressure above has clearly increased, and bullish momentum continues to diminish.
The current global macro pattern resonates with the crypto market cycle. The long-term consolidation pattern is about to break, and the trend reversal window has opened.
Follow Jiahao! The first wave of big gains in the Year of the Horse is coming!
Bitcoin: Short around 67,800-68,500, target 66,000, if broken, look further down to 64,000
Altcoin: Short around 2,040, target 1,940, if broken, look further down to 1,880
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