This market has been stagnant for several days, and it's about to make a choice.

Last night, the news about the Federal Reserve chairman candidate landed, and the market showed no signs of breaking upward, starting to fluctuate back and forth again. The bears are firmly pressing the liquidity at 88k, just waiting to harvest those who chase the highs.

The US stock market had a long upper shadow on the 4-hour candlestick yesterday, with funds making a tentative upward push, but ultimately it still fell back down.

BTC is now stuck in this box between 86000 and 88000, grinding for 3 whole days!

Did you notice? If it goes up, it gets knocked down; if it goes down, someone immediately snatches it. The tug-of-war between long and short positions is very intense.

So when can the direction be determined?

There is a rule - the longer you hold it in, the more explosive it will be.

The current market sentiment is like a fully drawn bowstring, ready to shoot at any moment. However, before the direction is clear, do not act recklessly; it’s better to miss out than to make the wrong move.

Today you can pay attention to these coins: ZEC, MON, YALA.

BTC1.97%

MON1.39%

YALA-9.54%

View Original

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.

19 Likes

Reward
19
6
Repost
Share

Comment

0/400

rugpull_survivor

· 11-29 00:58

This bowstring is pulled too tight, it feels like it could snap at any moment, better to hold on for now. After holding it in for three days and still nothing, do the shorts have us locked in? 88k is being defended tightly, it really feels like it's time to choose a direction. What can I expect, anyway I'll just lie flat and wait for an explosion. Can ZEC rise this time? It just feels like it's going to crash.

View OriginalReply0

UncleWhale

· 11-26 21:01

It's been held back for so long, it feels like the short positions are holding on. The 88k position just can't be defended. --- The range-bound battle is fierce; whoever bleeds first loses. --- With the bowstring pulled so tight, it will have to release sooner or later. --- Missing out is better than being played for suckers; I choose to be a bystander. --- That ZEC coin is a bit interesting, but let's just observe for now. --- It's been three days still shaking in this box; come on. --- I'll get in once the direction is clear; making a move now is just handing it over.

View OriginalReply0

PermabullPete

· 11-26 13:41

Here comes the "the longer you hold it in, the worse it explodes" again, I've heard it a hundred times haha, just don't know when it will explode. With the short positions being so fierce, I feel like it's going to break 85k at any moment, it's really tormenting.

View OriginalReply0

SatoshiLeftOnRead

· 11-26 13:28

88k this hurdle really feels like it's nailed down, the short positions defense is incredibly strong. Having held on for so long, it really needs to explode, but I'm afraid of getting out of positions too early due to my impulsiveness. I've seen this ZEC, but this time I feel a bit unclear.

View OriginalReply0

GasGuru

· 11-26 13:28

The 88k threshold is really stubborn, the short positions are holding on tightly, it feels like it's about to break.

View OriginalReply0

WhaleWatcher

· 11-26 13:27

88k can't be pressed down, the short positions are really stuck this time, feels like it's about to crash.

View OriginalReply0