5.3 Saturday Morning Bitcoin Ethereum Market Analysis
In the early morning, the market fluctuated, with Bitcoin touching 97571 before retracing to 96507, and Ethereum reaching a high of 1871 before dropping to 1830.
Technical Analysis
- Trend: The 4-hour chart shows that the overall trend of the market is robustly upward, with prices oscillating upwards in an ascending channel between the middle and upper bands of the Bollinger Bands, presenting a step-like increase, retracing to the middle band for support before testing the upper band pressure again.
- Indicators: The MACD indicator shows slight top divergence, but the fast and slow lines remain above the zero axis, indicating that bullish momentum is not exhausted, with a bullish outlook for the day.
Trading Suggestions
- Bitcoin: Long at 96000-96500, targeting 97500
- Ethereum: Long at 1790-1820, targeting 1900
Fluctuations hide opportunities, retracements are a buildup of strength, act in accordance with the trend to embrace the market situation!
