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Recently, the past couple of days' trading has been quite frustrating. Watching the price drop to a low of 95400, still a bit away from the target level, it feels like the market has been wasted in vain. This lesson has deeply taught me an important principle—hard holding positions is truly a big taboo; one must learn to respond flexibly.
Getting back to the main topic, from a technical perspective, the current situation is as follows:
Bitcoin has been oscillating between 95000 and 98000 over the past two days, unable to break through the previous high, indicating significant resistance above. The daily chart shows a slight pullback, but overall, it remains in a high-level consolidation phase. What does this stalemate signal? In the short term, a correction may be needed.
Looking at the hourly indicators, the DIF and DEA lines are diverging downward, and the MACD histogram has turned negative, signaling a correction. On the daily level, bullish momentum is gradually weakening, requiring close observation to see if a death cross will form—once it does, the pressure will increase further.
The RSI indicator also reflects this. The hourly RSI has fallen from the overbought zone to around 52, indicating that short-term upward momentum is clearly lacking; the daily RSI remains around 60, still in a neutral to slightly strong zone, and the overall bullish trend has not been completely reversed.
Regarding EMA moving averages, on the hourly chart, EMA7 and EMA30 are converging and slightly turning downward, suggesting short-term support around 94500. On the daily chart, EMA7, EMA30, and EMA120 still maintain a bullish alignment, indicating that the long-term bullish pattern remains intact.
In summary, the trading strategy is: focus on short-term high sell and wait for the price to pull back and stabilize before looking for low buy opportunities. On the macro front, recent US core CPI data below expectations has added uncertainty to the market, so caution is advised.
Specific trading references:
**Bitcoin**: Enter short positions in the 96500-97000 range, with targets around 95000. This level aligns with technical support expectations and considers an important previous resistance level.
**Ethereum**: Enter short positions in the 3300-3330 range, with targets around 3200. Ethereum's rhythm is roughly synchronized with Bitcoin but shows relatively weaker performance, making this approach more prudent.
Of course, the market is ever-changing, so adjustments should be made flexibly based on actual market movements. Risk management always comes first.