From a technical perspective, the current bullish structure remains intact, but there are indeed quite a few pressures in the short term. After encountering the strong resistance zone at 97,500-98,000, this wave of rebound has continuously pulled back, with two attempts last night, indicating that the selling pressure above is still relatively concentrated. If it rebounds again to this zone, consider light short positions, with a stop loss set at 98,300, and an initial target around 94,500. If it breaks through, watch the 94,000-93,500 area.
Conversely, the support below is also quite critical. The 94,300-93,800 zone is quite special, as it is the middle band of the Bollinger Bands and also a resonance zone of support across multiple timeframes. Once the price retraces to this level, going long at the lower levels would be a better choice, with a stop loss below 93,500, and the upper target looking at the 97,000-97,500 range. Overall, there are clear opportunities on both sides; it all depends on how the market unfolds.
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
9 Likes
Reward
9
7
Repost
Share
Comment
0/400
BlockchainBrokenPromise
· 36m ago
That 97,500 level is really a tough barrier; I tried twice last night and was rejected both times. It seems the selling pressure is indeed fierce.
View OriginalReply0
StakeOrRegret
· 19h ago
97500, I really can't hold this level anymore. I tried twice last night and was knocked down both times. It feels like there's really a large order pressing down from above.
View OriginalReply0
GasWaster
· 19h ago
97500 is really a tough resistance; I tried twice yesterday but couldn't break through... Looks like I'll have to wait until the breakdown for a chance.
View OriginalReply0
LightningSentry
· 19h ago
97500 is really a tough barrier; last night, two attempts to break through both failed... It seems that whether it can go down further depends on whether 94300 can hold.
View OriginalReply0
GateUser-75ee51e7
· 19h ago
The 97,500 level is really a tough barrier; I tried twice last night but couldn't break through... It seems that short positions have potential, but this market still depends on whether 94,000 can hold.
View OriginalReply0
GasFeeCrier
· 19h ago
The 97,500 level is really a tough barrier; last night, two attempts to break through failed, and it seems like the selling pressure is quite fierce.
View OriginalReply0
P2ENotWorking
· 19h ago
97500 is really stuck at this threshold; I tried twice last night to test it but couldn't pass. I think I need to adjust my approach this time.
From a technical perspective, the current bullish structure remains intact, but there are indeed quite a few pressures in the short term. After encountering the strong resistance zone at 97,500-98,000, this wave of rebound has continuously pulled back, with two attempts last night, indicating that the selling pressure above is still relatively concentrated. If it rebounds again to this zone, consider light short positions, with a stop loss set at 98,300, and an initial target around 94,500. If it breaks through, watch the 94,000-93,500 area.
Conversely, the support below is also quite critical. The 94,300-93,800 zone is quite special, as it is the middle band of the Bollinger Bands and also a resonance zone of support across multiple timeframes. Once the price retraces to this level, going long at the lower levels would be a better choice, with a stop loss below 93,500, and the upper target looking at the 97,000-97,500 range. Overall, there are clear opportunities on both sides; it all depends on how the market unfolds.