The market situation during Christmas week is indeed a bit awkward. BTC has been repeatedly testing the $90,000 price level but has been unable to break through, and the expected rebound on Monday did not arrive as anticipated. It seems that during this period before the holiday, the volume has shrunk, participation has decreased, and the market has entered a typical quiet phase.
From a technical perspective, the range of $90,600 to $91,000 can be considered an iron gate. Over the course of more than half a month, bulls have attempted countless times, but ultimately have been kept out. This not only reflects the pressure above but also indicates that market momentum is waning. At the same time, although the daily chart still maintains an upward pattern, the RSI indicator has entered the overbought zone; while the hourly chart remains in a bullish configuration, the upward momentum is clearly weakening. This situation typically signals an increase in short-term adjustment pressure.
Since the upward breakout is weak, high-level fluctuations have become a high-probability event. It is better to adjust the strategy and engage in high selling and low buying during repeated fluctuations.
For BTC, it is recommended to short in the range of $90,800 to $90,000, with a stop loss set at $91,800 and a target aiming for $88,500 to $87,500. If it drops to the range of $87,500 to $88,500, then consider positioning for a long entry.
The approach for ETH is similar. Short positions are chosen in the range of $3100-3060, while long positions are laid out in the range of $2950-2990.
The market may maintain this level of volatility before the holiday—there won't be any significant directional trends, nor will it suddenly crash. For traders, this is the time to look further ahead and focus on the ecological development and long-term trends behind mainstream cryptocurrencies. Short-term fluctuations often contain the brewing of mid-term movements.
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probably_nothing_anon
· 2m ago
The oscillation range is the money.
View OriginalReply0
MaticHoleFiller
· 8h ago
Be cautious of weak upward momentum
View OriginalReply0
SighingCashier
· 12-22 17:51
Christmas Bear joins the fun
View OriginalReply0
WalletDivorcer
· 12-22 17:49
Just wait for this damn market and so on.
View OriginalReply0
Layer3Dreamer
· 12-22 17:47
Wait for L3 scaling
Reply0
IntrovertMetaverse
· 12-22 17:42
Everyone is waiting for the Christmas market to break out.
View OriginalReply0
GamefiEscapeArtist
· 12-22 17:41
It's just a small fluctuation at the end of the year.
View OriginalReply0
BearMarketSurvivor
· 12-22 17:31
Continue to lie flat and wait for opportunities
View OriginalReply0
NotAFinancialAdvice
· 12-22 17:29
The market's quietness is bound to lead to fluctuations.
The market situation during Christmas week is indeed a bit awkward. BTC has been repeatedly testing the $90,000 price level but has been unable to break through, and the expected rebound on Monday did not arrive as anticipated. It seems that during this period before the holiday, the volume has shrunk, participation has decreased, and the market has entered a typical quiet phase.
From a technical perspective, the range of $90,600 to $91,000 can be considered an iron gate. Over the course of more than half a month, bulls have attempted countless times, but ultimately have been kept out. This not only reflects the pressure above but also indicates that market momentum is waning. At the same time, although the daily chart still maintains an upward pattern, the RSI indicator has entered the overbought zone; while the hourly chart remains in a bullish configuration, the upward momentum is clearly weakening. This situation typically signals an increase in short-term adjustment pressure.
Since the upward breakout is weak, high-level fluctuations have become a high-probability event. It is better to adjust the strategy and engage in high selling and low buying during repeated fluctuations.
For BTC, it is recommended to short in the range of $90,800 to $90,000, with a stop loss set at $91,800 and a target aiming for $88,500 to $87,500. If it drops to the range of $87,500 to $88,500, then consider positioning for a long entry.
The approach for ETH is similar. Short positions are chosen in the range of $3100-3060, while long positions are laid out in the range of $2950-2990.
The market may maintain this level of volatility before the holiday—there won't be any significant directional trends, nor will it suddenly crash. For traders, this is the time to look further ahead and focus on the ecological development and long-term trends behind mainstream cryptocurrencies. Short-term fluctuations often contain the brewing of mid-term movements.