5.2 Friday Early Morning Bitcoin and Ethereum Market Analysis and Trading Suggestions

During the day, the Bitcoin market showed a step-by-step upward trend. After building a bottom around the 93950 level in the early session, Bitcoin opened a fluctuating upward channel, reaching a high of 97388. Ethereum strongly broke through the baseline at 1788, reaching a high of 1872, with three positions laid out during the day.

Morning Bullish Layout: After confirming the bottom, enter a long position at 94000. When the price tests the 95450 level, take profits and exit, realizing a space of 1450 points.

Tactical Adjustment: Attempt to lay out a short position at 96300 in the evening, as the market still provides a technical pullback. When the price falls back to 95750, decisively close the short position and switch to a long position, exiting with a small profit, without stubbornly holding onto the short position.

Final Battle: After exiting the short position, follow the trend, taking profits at 97200, again capturing a space of 1450 points, fully demonstrating the effectiveness of the trend-following strategy.

The current Bitcoin market shows a bullish dominance but needs to be wary of pullbacks, with a clear short-term bullish advantage. From a technical indicator perspective, after breaking the upper Bollinger Band on the 4-hour chart, the price has not stabilized, and the opening has expanded, indicating an increase in volatility. Market sentiment is relatively exuberant but its sustainability is in doubt; on the 1-hour chart, the price runs close to the upper band, with the middle band forming a key support level. The RSI indicator is above 78 in both the 4-hour and 1-hour charts, indicating overbought territory and the risk of correction, especially noting the top divergence on the 4-hour level, which is worth attention. Recent volume increases have not sustained, showing that chasing high funds are slightly cautious.

Bitcoin: Can go long around 96500, short-term target 98000

Ethereum: Can go long around 1840, short-term target 1900