Yesterday's market surged again, with Bitcoin directly hitting 97,900. As a result, we were again proven wrong. I initially thought we might wait around 98, but it rose so quickly. The current issue is that this wave of upward movement has already completed the formation of a top pattern, and the daily indicators are not keeping up with this rally. What does this indicate? It's a typical trap to lure in buyers.
The short-term resistance level is around 97,500. If the hourly chart can effectively break through this level, the next resistance is between 98,200 and 98,400. Looking downward, the recent support remains in the 93,000-92,600 range. Going even lower, around 91,000 should be the bottom support.
Let's analyze the main cryptocurrencies individually. For SOL, focus on whether it can hold at 143. If it breaks below, short-term support shifts to 141. If it continues further down, 136.3 is the next support level. The upward resistance is at 146.4; only a breakout above this could lead to a move toward 150.8.
For ETH, the hourly candle needs to close above 3325 to challenge the resistance at 3375. The key support below is at 3208—if it is broken, then 3150-3170 can be considered. Further down, the position around 3005 is the next support.
Overall, yesterday's move completed the setup of a trap pattern, and the next phase is a correction. This correction isn't a bad thing; rather, it's preparing for the trend in February and is a good opportunity to build positions. The key is to endure these few days of correction and wait for bottom signals before taking action. Don't rush to buy; wait for the price to give signals.
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CounterIndicator
· 7h ago
Fakeout? Here we go again, said the same thing last time, and the next day it shot up directly. It really is quite satisfying to use as a contrarian indicator.
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ChainWatcher
· 7h ago
Another trap? Bro, your predictions are way too frequent.
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CryptoComedian
· 7h ago
The bullish pattern has completed, now it's time to wait for a correction. Fluctuating between 97,900 and 93,000—it's a familiar story. It was the same rhythm around this time last year.
Yesterday's market surged again, with Bitcoin directly hitting 97,900. As a result, we were again proven wrong. I initially thought we might wait around 98, but it rose so quickly. The current issue is that this wave of upward movement has already completed the formation of a top pattern, and the daily indicators are not keeping up with this rally. What does this indicate? It's a typical trap to lure in buyers.
The short-term resistance level is around 97,500. If the hourly chart can effectively break through this level, the next resistance is between 98,200 and 98,400. Looking downward, the recent support remains in the 93,000-92,600 range. Going even lower, around 91,000 should be the bottom support.
Let's analyze the main cryptocurrencies individually. For SOL, focus on whether it can hold at 143. If it breaks below, short-term support shifts to 141. If it continues further down, 136.3 is the next support level. The upward resistance is at 146.4; only a breakout above this could lead to a move toward 150.8.
For ETH, the hourly candle needs to close above 3325 to challenge the resistance at 3375. The key support below is at 3208—if it is broken, then 3150-3170 can be considered. Further down, the position around 3005 is the next support.
Overall, yesterday's move completed the setup of a trap pattern, and the next phase is a correction. This correction isn't a bad thing; rather, it's preparing for the trend in February and is a good opportunity to build positions. The key is to endure these few days of correction and wait for bottom signals before taking action. Don't rush to buy; wait for the price to give signals.