Friday Evening Thoughts, Bitcoin and Ethereum Market Analysis
Looking back at the long positions from this afternoon, there hasn't been much change in the overall market, still in the adjustment phase after a surge. From the current trend, the short-term coin price shows a clear high-level consolidation after the rise. Although there have been some pullback actions, both the strength and space are limited. We have consistently switched between long and short positions in the live market, achieving a winning streak. This afternoon's layout captured a pullback profit of 715 points, and the current live market is oscillating around the 96800 line, positioned at a midpoint. For tonight's strategy, we will first maintain a wait-and-see approach. If it breaks above 97000, we can lightly try a short position to capture the pullback, and once it reaches our expected points for the pullback, we will layout long positions again.
The 4-hour moving average system shows a standard bullish arrangement. The MACD has confirmed momentum with a secondary golden cross above the zero axis. After refreshing the high point yesterday, the bulls have not retraced their gains and continue to consolidate at high levels, indicating that the current market sentiment is relatively optimistic, with no obvious sell-off, which is also the reason we have been continuously suggesting low positions for longs in recent days. Tonight's operations will mainly focus on buying on dips at lower levels.
Trading Suggestions:
Bitcoin 95700-96200 range buy, target 97500.
Ethereum 1770-1800 range buy, target 1880.
