From last night's market rhythm, Bitcoin faced obvious resistance around 8770, and throughout the night it repeatedly oscillated at a high level, lacking the momentum for an upward breakthrough. Ethereum was even more so, with the 2980 level forming strong resistance, and several rebounds appeared weak, maintaining a high-level sideways pattern all night.
In cases where such resistance levels are consistently suppressed, there is short-term trading opportunity. If you believe there is still room for downward movement, you can consider short positions. Based on recent trends, this kind of sustained high-level oscillation and repeated testing of resistance often leads to a downward breakout. The short-term risk is relatively controllable, and the chance of being trapped is not high.
Continue to monitor whether the upper resistance is broken or not, and the specific support levels below. Other mainstream assets like BNB and SOL are also searching for direction, and the overall market remains in a phase of oscillation confirmation.
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.
14 Likes
Reward
14
2
Repost
Share
Comment
0/400
Liquidated_Larry
· 12-20 08:26
8770 is so strongly suppressed, I bet it won't break through. I'm waiting with a short position.
View OriginalReply0
MissedTheBoat
· 12-17 08:50
8770 cannot be held down, I knew today would once again see a drop from the high levels.
BTC, ETH, BNB, SOL Intraday Technical Review
From last night's market rhythm, Bitcoin faced obvious resistance around 8770, and throughout the night it repeatedly oscillated at a high level, lacking the momentum for an upward breakthrough. Ethereum was even more so, with the 2980 level forming strong resistance, and several rebounds appeared weak, maintaining a high-level sideways pattern all night.
In cases where such resistance levels are consistently suppressed, there is short-term trading opportunity. If you believe there is still room for downward movement, you can consider short positions. Based on recent trends, this kind of sustained high-level oscillation and repeated testing of resistance often leads to a downward breakout. The short-term risk is relatively controllable, and the chance of being trapped is not high.
Continue to monitor whether the upper resistance is broken or not, and the specific support levels below. Other mainstream assets like BNB and SOL are also searching for direction, and the overall market remains in a phase of oscillation confirmation.