the crypto market seeing an easing in selling pressure, sideways movement over the weekend is very likely, hence consolidation. A technical rebound also does not seem to be a farfetched possibility, particularly if key levels are sustained. What I am closely watching this weekend is Ethereum. Relatively strong to Bitcoin of late, Ethereum could have a possible short-term bounce, particularly if it breaks through resistance levels at 2,300. For trading, what I would consider doing is setting buy orders slightly above the recent resistance points to try and catch the momentum upwards. In addition, stop-loss orders below support levels are beneficial for managing risk in case of an opposite market pullback. Overall, flexibility and readiness to adapt to the moves the market will make will be important.
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the crypto market seeing an easing in selling pressure, sideways movement over the weekend is very likely, hence consolidation. A technical rebound also does not seem to be a farfetched possibility, particularly if key levels are sustained. What I am closely watching this weekend is Ethereum. Relatively strong to Bitcoin of late, Ethereum could have a possible short-term bounce, particularly if it breaks through resistance levels at 2,300. For trading, what I would consider doing is setting buy orders slightly above the recent resistance points to try and catch the momentum upwards. In addition, stop-loss orders below support levels are beneficial for managing risk in case of an opposite market pullback. Overall, flexibility and readiness to adapt to the moves the market will make will be important.
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