Friday Bitcoin Ethereum Market Analysis Summary and Early Morning Operations
Reviewing today's market, Bitcoin's price has been hovering at a low level, with the lowest point of the pullback at 104933.2. We mentioned yesterday that the three lines of the Bollinger Bands showed a convergence trend, which would lead to a significant fluctuation. Regarding this wave of market movement, we have also gained insights. In the early morning, we positioned for a bullish trend, and when the situation changed, we quickly reversed to a bearish position. Today's Ethereum market is primarily bearish. Similarly, Ethereum also showed a convergence trend in the Bollinger Bands yesterday, so for this kind of market, our strategy of buying low and selling high has proven to be correct, which greatly avoids the risk of being trapped.
From the daily level, Bitcoin's price has broken through the middle band, and its ability to withstand pressure is obviously insufficient. From the four-hour level, Bitcoin's market is currently hovering at the lower band of the Bollinger Bands, with both bulls and bears in a tug of war, while the bullish trend remains relatively weak and bears dominate.
Short Bitcoin around 106000, target 104000
Short Ethereum around 2630, target 2450
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