Gate Square “Creator Certification Incentive Program” — Recruiting Outstanding Creators!
Join now, share quality content, and compete for over $10,000 in monthly rewards.
How to Apply:
1️⃣ Open the App → Tap [Square] at the bottom → Click your [avatar] in the top right.
2️⃣ Tap [Get Certified], submit your application, and wait for approval.
Apply Now: https://www.gate.com/questionnaire/7159
Token rewards, exclusive Gate merch, and traffic exposure await you!
Details: https://www.gate.com/announcements/article/47889
Stay calm and focus on long-term goals; don't be swayed by short-term fluctuations. Every market shock is an opportunity to reallocate wealth, and each pullback hides the seeds of the next rally. Hold the steering wheel of confidence to sail through the waves.
Yesterday's market rhythm was quite interesting—the entire trading day Bitcoin kept bouncing within a narrow range. It rebounded from a low of 95733 in the morning to a high of 97155, only to start turning down in the afternoon. Near midnight, the price tested 95403 again, then rebounded once more, finally stabilizing around 97047. Ethereum's performance was similar—rebounding from 3275 to a peak of 3383 in the morning, then falling back to 3282 at midnight.
This kind of market is actually quite friendly to long traders. Bitcoin's two long positions combined yielded a total profit of 2300 points, and Ethereum's two longs also earned 109 points. The numbers may seem modest, but this is the norm for intraday swings—don't aim for a perfect entry in one shot; consistently riding the waves is the key.
From a technical perspective, the daily chart has been rising for four consecutive days, now showing a pullback. But there's a key detail: although today’s price declined, the long lower shadow indicates strong buying pressure below. What does this mean? The bottom support remains solid, and the overall pattern hasn't fundamentally changed. Judging from the larger trend, we should still maintain a bullish stance.
The four-hour chart provides further clarity. After a correction, the price remains firmly within the upper and middle bands of the Bollinger Bands. More importantly, the bands are widening, and the middle band is gradually moving up—this suggests that while the upward momentum has temporarily weakened, it’s far from exhaustion. So today’s decline is essentially a technical correction, not a trend reversal.
The trading approach is clear: from tonight into early morning, observe how strong the pullback is before deciding to enter. If the correction is limited, go ahead with low-position longs.
Specific level suggestions:
For Bitcoin, consider going long in the 95000-95500 range, targeting 97500.
For Ethereum, position longs around 3250-3270, with a target of 3370.
The crypto market always tests patience and discipline. Those who can stay calm at key support levels and dare to operate contrarily are often the winners.