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Recent Market Analysis of Bitcoin and Ethereum
Recent Market Summary
From a technical perspective, this correction is within the normal retracement range and is a necessary phase to accumulate momentum for subsequent upward movement. Both Bitcoin and Ethereum have completed minor retracements on a small scale. Bitcoin has currently touched a low of around 906, meeting previous expectations. However, based on the current pace, this may not be the final bottom; it is highly likely to further break below the 90,000 level, completing a false breakdown and downward probe. Afterwards, a consolidation and accumulation phase is expected, with a potential rebound supported at the 88-89 level, then launching an upward attack towards the 96-100 range, which is an important pinning point.
Ethereum's decline has been relatively moderate and has not yet fallen to the small support level at 3160 as per the normal rhythm. According to previous analysis, this level is likely to be broken, returning to the 3030-3060 range. The 3000-3100 zone is an ideal secondary entry point; specific entry levels can be directly engaged without overthinking.
Short-term Trading Strategy
For BTC, the main tone remains a correction in the short term. The small-scale retracement with increased volume has not yet fully concluded. The minor support at 906 is difficult to hold, especially if broken, it will likely penetrate the 90,000 level, forming a false breakdown and then moving into a consolidation and rebound phase. The focus today is on monitoring the support strength in the 90-906 range.
Ethereum will also follow BTC in retracement. The small support at 3160 has already been broken, consistent with yesterday’s forecast. Based on this development, it is expected to reach the 3000-3100 range today. The key is to observe whether the 3030-3060 line can be effectively defended. On a larger scale, the 2960 level is a trendline support, which theoretically should not be broken. Therefore, precise timing is not necessary; as long as the deployment is within the 3000-3100 range, it meets the entry conditions.
Overall, both assets are in the phase of testing key supports during a correction, progressing as expected, waiting for opportunities to rebound.
Now that my contract has been exposed, I’m starting to get some PTSD from these analyses. It’s better to clarify before bottom-fishing, right?
Can it really rebound this time? Feels like being trapped with no end in sight.
If Bitcoin can't hold 90k, I’ll be crying tears of frustration. Ethereum’s recent drop was too sudden and caught me off guard.
Is 3000-3100 really the bottom? I’ve already added to my position five times.
The support levels are as fragile as paper; they break every time. With such accurate analysis, why not do live trading signals?
I’m optimistic about this move, betting that 88-89K can rebound. Please, don’t let it break through again.
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Can the 88-89 rebound really stabilize? Feels like a trap again.
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Wait, the logic is that breaking 90,000 will lead to a rebound, so why should I buy in now?
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I've heard this story about 3000-3100 for BTC.
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If the support level is broken, is it still called support? That's hilarious.
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Anyway, just waiting for an opportunity. When it comes is the question.
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This set of theoretical logic is self-consistent; the key is whether the market will cooperate.
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Watching the 3100 level of Erbing closely, a break below and it's a quick sell-off
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At this pace, the rebound might still need to wait a bit
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Oh, I recognize this analysis pattern, it's a false breakout and accumulation again
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Waiting for a rebound opportunity? I'm afraid the opportunity will come before my wallet is even full
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Does the 88-89 support line really work? Seems like everyone drawing lines says so
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Both coins are testing critical levels, the key is what to do if I run out of bullets
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If the 88-89 line can hold, you make money; if not, you have to keep probing downward.
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Ethereum is mild? Mild your sister, it still crashes with Bitcoin, okay?
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Just jump in directly at 3000-3100, no need to think twice; anyway, you'll get there sooner or later.
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It's both a fake breakdown and accumulation; both sound right, but I don't know when the real rebound will happen.
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If I can't hold 906, I won't watch the market anymore; I'll just lie flat and wait for the rebound.
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Does Bitcoin need to break 90,000? Then I better prepare to buy the dip.
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Key supports are one after another; if one breaks, find the next. It's a cycle game.
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By the time a rebound opportunity appears, I’ve already been shaken out, really.
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The 3030-3060 line feels more reliable; it should test it today.