Bitcoin has been consolidating for over a month, just like last time over a month ago.
After Christmas last year, there was a good rebound after January 2nd. Currently, Bitcoin's trend line is holding, and the recent drop to 126200 is likely to end soon. However, looking at this month's market, the whales have been shaking out positions, and with only one trading day on Friday plus a "painting door" pattern, it’s very likely to dip further before a new rally begins. If there's a sharp move, it could be a bottoming opportunity. In the short term, play Ethereum: break above Fibonacci 0.382 at 2954 to go long, break below 2940 to go short. For Bitcoin, a break above 88000 could be a short-term buy signal. Watch for volatility tonight.
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Don_tGiveUpUntilThe
· 9h ago
Hurry up and buy the dip. Overnight riches are not a dream
Bitcoin has been consolidating for over a month, just like last time over a month ago.
After Christmas last year, there was a good rebound after January 2nd.
Currently, Bitcoin's trend line is holding, and the recent drop to 126200 is likely to end soon. However, looking at this month's market, the whales have been shaking out positions, and with only one trading day on Friday plus a "painting door" pattern, it’s very likely to dip further before a new rally begins. If there's a sharp move, it could be a bottoming opportunity.
In the short term, play Ethereum: break above Fibonacci 0.382 at 2954 to go long, break below 2940 to go short. For Bitcoin, a break above 88000 could be a short-term buy signal. Watch for volatility tonight.