The current market is like the main force is "painting a pie" for retail investors. Don't be blinded by short-term fluctuations.
First, look at $BTC Bitcoin The current price is oscillating around 70,500, just after a large bearish candle from a high point, directly breaking below the middle band of the Bollinger Bands at 70,800. Short-term support is at 70,200. If the lower Bollinger Band can't hold, the next support level is the 24-hour low at 69,170.
The resistance level is clearly at the recently dropped position of 71,300, the upper Bollinger Band. Going higher, the previous high is at 72,300. Without enough volume, it’s impossible to push through.
Next, look at $ETH Ethereum Currently at 2,070, weaker than Bitcoin, just oscillating below the middle Bollinger Band, appearing to say, "I'll lie flat for now."
Support is at 2,066, the lower Bollinger Band. If it breaks, the next test is the previous low at 2,050.
Resistance is at 2,100, the upper Bollinger Band. Going higher, the previous high is at 2,150. Right now, these are "aspirations that are out of reach."
For defense, if Bitcoin drops below 70,000 and Ethereum below 2,010, decisively reduce your positions. Don't fight the market.
If the price can stabilize above the middle Bollinger Band, consider light positions for a long attempt. The initial target is the upper band resistance. Once reached, exit quickly—never fight the trend.
Remember, in a winter market, cash is king. Don't let yourself become meat on the main force's chopping block.
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.
The current market is like the main force is "painting a pie" for retail investors. Don't be blinded by short-term fluctuations.
First, look at $BTC Bitcoin
The current price is oscillating around 70,500, just after a large bearish candle from a high point, directly breaking below the middle band of the Bollinger Bands at 70,800.
Short-term support is at 70,200. If the lower Bollinger Band can't hold, the next support level is the 24-hour low at 69,170.
The resistance level is clearly at the recently dropped position of 71,300, the upper Bollinger Band. Going higher, the previous high is at 72,300. Without enough volume, it’s impossible to push through.
Next, look at $ETH Ethereum
Currently at 2,070, weaker than Bitcoin, just oscillating below the middle Bollinger Band, appearing to say, "I'll lie flat for now."
Support is at 2,066, the lower Bollinger Band. If it breaks, the next test is the previous low at 2,050.
Resistance is at 2,100, the upper Bollinger Band. Going higher, the previous high is at 2,150. Right now, these are "aspirations that are out of reach."
For defense, if Bitcoin drops below 70,000 and Ethereum below 2,010, decisively reduce your positions. Don't fight the market.
If the price can stabilize above the middle Bollinger Band, consider light positions for a long attempt. The initial target is the upper band resistance. Once reached, exit quickly—never fight the trend.
Remember, in a winter market, cash is king. Don't let yourself become meat on the main force's chopping block.