The recent two days have been quite interesting. After the US stock market closed, Bitcoin surged directly to around 91,000, then retreated back to the morning levels in the early hours. Ethereum followed the fluctuations closely, forming a complete deep V-shape. Our long positions were triggered at the low point as expected, successfully capturing a wave of gains. Currently, we have closed the position and are observing.
From a technical perspective, the daily chart shows six consecutive bullish candles, indicating that the bulls are still in control. However, the 4-hour chart has been repeatedly pulling in the overbought zone, suggesting that although the bulls are dominant, a short-term correction is expected. The 1-hour resistance level is around 3320.
The key factor tonight is the ADP employment data. Such economic indicators often trigger significant volatility, so it’s advisable to wait for the data before considering any trading positions.
**Technical reference points**: Resistance at 3320/3250, support at 3200/3180. Short position strategy: Enter at 3337-3355, stop loss at 3385, take profit around 3280-3250. Long position strategy: Enter at 3200-3185, stop loss at 3145, take profit at 3250-3280. If broken, continue to watch around 3320 (consider scaling into around 3200, add 1% at 3220).
Use a light position of 2%-5% when opening trades, prioritizing risk management. Recent news can easily cause volatility, so there's no need to chase full positions.
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NftRegretMachine
· 01-09 07:43
The deep V market trend is really incredible; buying at the lows feels great. But why does this ADP data seem more aggressive than BTC?
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BearMarketSurvivor
· 01-09 06:52
Deep V ate it and ran quickly; I don't believe this wave anymore. Let's wait for the ADP data.
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AirdropHunter007
· 01-07 01:54
Deep V is back again. This dip was indeed sweet, and long positions were comfortable. However, at this critical moment with the ADP data, I still decide to stay on the sidelines, not to play with full positions. Risk first.
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ShadowStaker
· 01-07 01:52
ngl the deep V pattern is textbook, but that ADP data tonight? absolute wildcard. might just sit this one out and let the volatility sort itself—wouldn't touch it till we see what unemployment throws at us honestly
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LadderToolGuy
· 01-07 01:43
Deep V bounce is satisfying when you catch it, but the fear is ADP comes out and we get another round of beating.
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IronHeadMiner
· 01-07 01:42
Deep V has been caught, lucky enough. But once ADP is released, I guess I'll have to tinker again. I'll wait a bit longer before taking action.
The recent two days have been quite interesting. After the US stock market closed, Bitcoin surged directly to around 91,000, then retreated back to the morning levels in the early hours. Ethereum followed the fluctuations closely, forming a complete deep V-shape. Our long positions were triggered at the low point as expected, successfully capturing a wave of gains. Currently, we have closed the position and are observing.
From a technical perspective, the daily chart shows six consecutive bullish candles, indicating that the bulls are still in control. However, the 4-hour chart has been repeatedly pulling in the overbought zone, suggesting that although the bulls are dominant, a short-term correction is expected. The 1-hour resistance level is around 3320.
The key factor tonight is the ADP employment data. Such economic indicators often trigger significant volatility, so it’s advisable to wait for the data before considering any trading positions.
**Technical reference points**: Resistance at 3320/3250, support at 3200/3180.
Short position strategy: Enter at 3337-3355, stop loss at 3385, take profit around 3280-3250.
Long position strategy: Enter at 3200-3185, stop loss at 3145, take profit at 3250-3280. If broken, continue to watch around 3320 (consider scaling into around 3200, add 1% at 3220).
Use a light position of 2%-5% when opening trades, prioritizing risk management. Recent news can easily cause volatility, so there's no need to chase full positions.