This Wednesday, the cryptocurrency market experienced a day of volatility. Daytime trading showed a range-bound oscillation until a significant rise occurred after the US stock market opened. Market analysts predict that a pullback may occur near midday in the early session, mainly due to strong resistance above and relatively weak bullish momentum. However, bearish forces are also not very pronounced, so a slight pullback may occur. Investors need to closely monitor the performance of the support level below to avoid risks from a substantial pullback.
The evening market showed significant fluctuations as expected, presenting an upward trend. This wave of market has brought profit opportunities for many investors. Due to the small fluctuations during the day, many traders chose to build positions with multiple small trades. In the evening market, Bitcoin rose over 1000 points, and Ethereum's increase approached 200 points. Although there were slight losses during the day, the overall profit was still maintained.
In the current market situation, investors should not rush to act. Although the long-term outlook is bullish, caution is needed in the short term. Bitcoin faces strong resistance around $113,000, while Ethereum encounters resistance at $4,500. Given that the current prices are close to these resistance levels, investors should closely monitor for potential pullbacks after the close of the U.S. stock market.
It is recommended to pay attention to the support levels of Bitcoin at 111000 and 110000 USD, as well as the support performance of Ethereum at 4400 and 4350 USD. Looking for suitable entry points at these key positions may be a wise choice. For Bitcoin, consider establishing long positions in the range of 111300-111800 USD, targeting 113000 USD, with a stop loss set around 110700 USD. For Ethereum, positions can be built in the range of 4390-4430 USD, targeting 4500 USD, with the stop loss around 4350 USD.
Overall, the current market is showing a fluctuating upward trend. Investors need to remain vigilant, closely monitor market movements, manage risks appropriately, and seize potential investment opportunities.
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TokenomicsTrapper
· 09-03 18:52
textbook bull trap pattern... called this dump weeks ago fr
Reply0
DancingCandles
· 09-03 18:52
In a bull run, don't overanalyze, just go for it.
View OriginalReply0
ZKProofster
· 09-03 18:52
technically speaking, these resistance levels are pure noise...
Reply0
Ser_APY_2000
· 09-03 18:51
Waiting to bottom out, steady.
View OriginalReply0
WalletManager
· 09-03 18:39
When placing an order, precision is essential. The support level must be secured.
This Wednesday, the cryptocurrency market experienced a day of volatility. Daytime trading showed a range-bound oscillation until a significant rise occurred after the US stock market opened. Market analysts predict that a pullback may occur near midday in the early session, mainly due to strong resistance above and relatively weak bullish momentum. However, bearish forces are also not very pronounced, so a slight pullback may occur. Investors need to closely monitor the performance of the support level below to avoid risks from a substantial pullback.
The evening market showed significant fluctuations as expected, presenting an upward trend. This wave of market has brought profit opportunities for many investors. Due to the small fluctuations during the day, many traders chose to build positions with multiple small trades. In the evening market, Bitcoin rose over 1000 points, and Ethereum's increase approached 200 points. Although there were slight losses during the day, the overall profit was still maintained.
In the current market situation, investors should not rush to act. Although the long-term outlook is bullish, caution is needed in the short term. Bitcoin faces strong resistance around $113,000, while Ethereum encounters resistance at $4,500. Given that the current prices are close to these resistance levels, investors should closely monitor for potential pullbacks after the close of the U.S. stock market.
It is recommended to pay attention to the support levels of Bitcoin at 111000 and 110000 USD, as well as the support performance of Ethereum at 4400 and 4350 USD. Looking for suitable entry points at these key positions may be a wise choice. For Bitcoin, consider establishing long positions in the range of 111300-111800 USD, targeting 113000 USD, with a stop loss set around 110700 USD. For Ethereum, positions can be built in the range of 4390-4430 USD, targeting 4500 USD, with the stop loss around 4350 USD.
Overall, the current market is showing a fluctuating upward trend. Investors need to remain vigilant, closely monitor market movements, manage risks appropriately, and seize potential investment opportunities.