2026-01-09 05:21:49

I used to be a hardcore bottom-fisher, but what happened? I often bought in during the middle of a rally, and the number of times I cut losses was so high I lost count. It was only later that I realized a simple yet brutal truth — trends are a trader’s friend, and trading against the market is a game for experts. For us ordinary folks, it’s more realistic to stick to retracements and avoid fighting the rebound.

Let’s talk about the recent market. Bitcoin directly broke below the 90,000 level in the early hours, with the lowest point reaching 89,268, then rebounded to 91,588. During the same period, Ethereum also broke the 3100 mark in the early hours, with the lowest touching 3052, and rebounded to 3148.

Looking at the current technical pattern, it’s clear that the bulls are having a tough time. The daily chart shows three consecutive bearish candles, with ongoing energy within the range. Although these bearish candles have long lower shadows, indicating buyers are still trying to support the price, the overall weak structure has already been set. The middle band of the four-hour Bollinger Bands shows clear resistance, and the upper band on the hourly chart is also under strong selling pressure. These are typical signals that the bulls are running out of steam. Want to see a market reversal? Currently, this pattern makes it impossible.

Trading advice: For Bitcoin, during this rebound, consider shorting between 92,000 and 91,600, with the first target at 90,000. For Ethereum, short around 3,180 to 3,150, aiming for a drop to 3,000.

BTC3,39%

ETH3,88%

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NftBankruptcyClub

· 01-12 04:57

It's the same theory again; bottom-fishing has indeed trapped quite a few people. But is the space really that big this time? It feels a bit aggressive.

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ChainSherlockGirl

· 01-10 03:20

Oh no, it's another story of being caught in a bottom-fishing trap. I’ve been saying that this move needs to be avoided; in the face of the trend, everyone is just cannon fodder. Three consecutive bearish candles are indeed a bit hard to bear; the bulls might really need to take a breather this time. The vicinity of 92,000 for Bitcoin does have some resistance, but I still want to see how the on-chain whales are moving. Their wallet stories are more interesting than the K-line. Let me observe a bit more; we need to be cautious with this short position. Shorting Ethereum at 3150 sounds good, but a risk warning to everyone—my personal speculation is for entertainment only.

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NFT_Therapy_Group

· 01-09 17:01

Another veteran of taking losses, I really understand that feeling... But this wave of short-selling ideas is indeed clear, just worried that I might wimp out when it comes to execution.

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SellLowExpert

· 01-09 05:49

I've done the same before, and now I regret it. This bearish signal is indeed obvious. I'm also considering shorting at 92,000, just worried about getting slapped in the face again.

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MemeCoinSavant

· 01-09 05:49

ngl the "trend is your friend" thesis hits different after you've liquidated your entire stack trying to catch falling knives lmao... statistical significance on those three red candles though, the math checks out fr fr

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LowCapGemHunter

· 01-09 05:48

Another bottom-fishing turned into a family-raising, I understand this feeling, a bloody lesson. Still have to go with the trend, going against it is really not our style. --- That move at 89268 was really aggressive, showing that the bears still have strength, but I think this rebound might not be so easy to break. Do you guys think this short position is promising? --- Three consecutive bearish candles, this pattern is indeed ugly, but with such a long lower shadow, it feels like the bottom is trying to hold something. Could it be another fake-out? --- I need to wait a bit longer on the 92000 short, feeling that the rebound might be stronger than expected, don’t want to get hit again. --- At the 3000 level for Ethereum, there's still some distance to go, can it reach in the short term? Seems like there are quite a few supports ahead. --- That’s how I operated before, buying the dip and then shorting the rebound, ending up with net losses... Now I’m a bit hesitant, is this really so effective? --- The middle band of the Bollinger Bands is clearly acting as resistance, I agree with that, but judging from the hourly chart with full selling pressure, that might be a bit absolute, there are still buyers stepping in. --- Got it, bottom-fishing and chasing the rebound, I’ve really understood this theory, but I always get itchy fingers when it comes to execution.

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SnapshotDayLaborer

· 01-09 05:36

Alright, this move indeed has room to go. It should push down around 92,000, see you at 88,000.

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staking_gramps

· 01-09 05:35

Here comes the bottom-fishing story again, bro. Your judgment this time might not be correct. I resonate a lot with the part where you bought in on the hillside; cutting losses to the point of doubting life. This wave of short positions definitely should be taken; smashing below 92,000 is no problem. Wait, you say a reversal is impossible? That's a bit too absolute. Are you serious about dropping to 3000? That's too risky.

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NFTFreezer

· 01-09 05:34

It's the same kind of "I've had an epiphany" narrative, easy to say but how many actually have chips in hand? Talking without action is a skill exclusive to the comment section. Breaking 90,000 is indeed significant, but this rebound to 91,588 and then going short? That's really bold. The low point at 3052 for Ethereum is scary, but that 3000 level... can it really be reached? In this kind of market, I prefer to stay on the sidelines. Don't be fooled by various technical indicators. History always lowers expectations at the bottom, then suddenly flips around.

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SocialAnxietyStaker

· 01-09 05:29

Starting to cut losses again. Can this rebound really reach 92? Feels uncertain.

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