$BTC The market on Monday has completed its suitable movements. After a strong rise in the overall market in the morning, the coin price reached above 87500 and then halted for consolidation. During the day, it basically maintained high-level fluctuations. We have been emphasizing that the main focus is on bullish positions, looking forward to a second round of highs. In the evening, the Bitcoin price strongly broke through the 88000 level. Although it did not break the previous resistance level of 88500, breaching the 88000 level was still a leap forward. The Ethereum trend remains relatively weak, with the price experiencing a pullback after a rise in the afternoon. Currently, the price is not rising but instead falling to around 1600.

On the four-hour level, after a narrow range of fluctuations and consolidation, the price has dipped but recovered to make a high. The bullish volume remains orderly, showing signs of an upward trend channel opening. The small cycle of fluctuations has allowed for bullish momentum to accumulate, and the downward pressure in the short term is limited. We are not optimistic about too much retracement space, and our upcoming strategy is to go long directly at the lower levels.

Trading Suggestions

Go long on Bitcoin at 86800-87200 with a target of 89000.

Go long on Ethereum near 1600 with a target of 1700.