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
There's no need to envy others for sudden wealth, nor to blame yourself for temporary mistakes. Maintain a calm mindset, earn within your knowledge, and keep your own rhythm. Health, family, and happiness are far more important than account figures. The current market shows a low-volatility range-bound pattern, with prices hovering near the strong resistance level of 88,000, and short-term momentum weakening. Technical analysis indicates that although the moving averages are in a bullish alignment, the candlestick pattern forms a Evening Star, suggesting potential short-term downward pressure.
The overall trend remains bearish, and the key point is that the current downtrend has not yet ended, and is expected to continue further. A rebound to the trendline on the daily chart is an ideal shorting opportunity. If the last hope of the bulls can push the price close to $90,000, they should decisively exit. From the daily chart perspective, the recent continuous decline over the past week has broken the short-term rebound structure. Since the trend is now clear, it is highly likely to continue downward, possibly breaking below the previous low of 80,000 and testing the 75,000 area, then forming a new round of rebound.
In terms of recent operations, it is recommended to focus on short positions around the daily chart range of 89,500-90,000, with position sizes potentially doubled compared to usual—because the current downtrend is quite clear. The long-term target can be set around 75,000-80,000. Before the price breaks below the previous low, it is not advisable to rush into long positions. Although there are still intraday rebound opportunities in the short term, the risks are higher. The prudent strategy remains to short on rallies. Long-term traders can enter and hold at the above levels, while intraday swing traders should prefer short positions near resistance levels.
Trading suggestions:
Bitcoin: Short around 88,500, target 86,000
Altcoin: Short around 2,950, target 2,700