In the jungle of rising and falling numbers on the candlestick charts, there is no eternal bull market celebration, nor endless bear market gloom. Those who succeed through bull and bear markets are never relying on luck to bet on the right trend, but rather on discipline to stay true to their original intentions. The overall market shows a pattern of first surging high then facing pressure and repairing, reaching a peak near 94,500 on Wednesday, then encountering resistance and oscillating downward, with the lowest point dropping to around 88,400 on Sunday. Ethereum moves in sync, reaching a high near 3,440, with the lowest retracement around 3,040. The overall trading range clearly shows insufficient momentum. Victory Trading did not insist on a one-sided trend this week, always following the principle of trading with the trend and operating steadily. Short-term gains may appear modest, but this is the normal market condition in the crypto space. During the market dormancy period, it’s even more crucial to actively position, closely monitor real-time dynamics, and accurately capture breakout opportunities, rather than passively waiting on the sidelines.

From the market structure perspective, the weekly chart experienced four consecutive downward sessions touching the lower band, followed by a rebound with three consecutive bullish days. However, the rebound strength was generally weak, and recent candlesticks frequently show long upper shadows, further verifying the lack of upward momentum. The MACD indicator bars remain below the zero line, indicating the bearish trend has not yet reversed. On the daily chart, after two consecutive bearish days, the price entered a consolidation phase, showing typical weekend market behavior. Technically, the KDJ indicator has formed a death cross and extended downward, releasing a strong bearish signal. Overall, the current market remains dominated by bearish sentiment, and medium- to long-term trading strategies can consider high-position shorting opportunities after a rebound.

Follow Gong Zhonghao: Victory Looks at Trends

Trading recommendations:
Bitcoin: around 89,000, target 87,000

Ethereum: around 3,150, target 2,800