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When the market moves slowly, it's a test of your mindset. The market won't speed up because of your anxiety—patience is the best leverage. A slow market doesn't wear down time, it wears down the impatient trader's capital. Over the weekend, Bitcoin showed its usual consolidation pattern. After a slight pullback to the 88,870 level in the morning, the bulls managed to stage a rebound, but faced resistance again at the 89,500 high. The suggested trading strategy reached expectations: a long near 88,900 hitting the 89,500 level, capturing a 600-point range; a long on Ethereum at 3,025 reaching the 3,045 level, netting a 20-point move. Currently, the market lacks significant momentum in either direction and remains in a consolidation tug-of-war.
Looking at the current chart, on the four-hour time frame, the price channel shows downward pressure. The price recovers and tests the upper boundary but hasn't triggered a reversal. Bullish volume remains steady, moving averages are steadily rising in a winding fashion, and short-term corrections remain stable. The short-term range-bound movement highlights the bears' weakness, with no breakout in sight. For now, the strategy is to go long on dips. On the one-hour chart, the price faces resistance and pulls back, but fails to extend lower, rebounding instead. It's trading in the mid-lower band, with bullish volume maintaining the consolidation. The price channel is flat, moving averages are crossing, and short-term, there is still some corrective volatility, but it remains a bullish pullback accumulation phase.
Bitcoin: 89,200-89,000 Long Target: watch 91,000
Ethereum: 3,020-3,000 Long Target: watch 3,150