The holiday market is indeed quiet, but we need to plan our actions for next week in advance.
Currently, Bitcoin is still hovering below the middle band of the 4-hour Bollinger Bands. If the price can't break through the middle band, there's a high chance it will test the lower band. Interestingly, the lower band is now right at the upper edge of the previous range (93,000)—in other words, once it breaks below the lower band, shorting becomes the main theme.
Conversely, if next week the price breaks above the middle band, there's a good chance it will challenge the 99,000 level.
Here's our current short position:
Average price at 94,200, add-to-position point set at 94,000, stop loss at 96,000.
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.
12 Likes
Reward
12
5
Repost
Share
Comment
0/400
TopBuyerBottomSeller
· 8h ago
Uh, I'm too familiar with this Bollinger Bands trick, it's going to test my patience again.
View OriginalReply0
Rugpull幸存者
· 8h ago
This support level is really holding firm. Whether 93000 can be maintained depends on next week. If it truly breaks below, we will have to proceed according to the plan.
View OriginalReply0
0xSoulless
· 9h ago
Still wandering around, really testing patience. Holding tightly to the average price of 94,200, either break through 99,000 or drop to 93,000. Anyway, the retail investors' fate is to gamble on both ends.
View OriginalReply0
SocialAnxietyStaker
· 9h ago
Another such stagnant market, so annoying. I'd rather take a vacation.
View OriginalReply0
HalfPositionRunner
· 9h ago
The 93,000 level is indeed key; if it drops below, short positions will be in for a good ride.
The holiday market is indeed quiet, but we need to plan our actions for next week in advance.
Currently, Bitcoin is still hovering below the middle band of the 4-hour Bollinger Bands. If the price can't break through the middle band, there's a high chance it will test the lower band. Interestingly, the lower band is now right at the upper edge of the previous range (93,000)—in other words, once it breaks below the lower band, shorting becomes the main theme.
Conversely, if next week the price breaks above the middle band, there's a good chance it will challenge the 99,000 level.
Here's our current short position:
Average price at 94,200, add-to-position point set at 94,000, stop loss at 96,000.
Let's just wait and see how it goes this week.