Tuesday Afternoon Thoughts, Bitcoin and Ethereum Latest Market Analysis
Looking back at the long positions suggested in the morning, the market rebounded to around 94900 after retracing to the vicinity of 94400, as expected. We decisively placed long positions in the real market, successfully securing a profit of 403 points and exiting the market. Currently, the real market is fluctuating around the 94100 mark. The morning market has already played out, and our afternoon strategy continues to maintain the idea of buying on dips. Aggressive traders can cautiously test long positions for short-term upward movement.
From the current perspective, the daily candle is bullish, and the overall short-term trend of the price remains relatively strong. Although the recovery is not very strong, all indicators are pointing towards bullish sentiment. From a technical structure perspective, after reaching the low point near 93500, the market did not break down again but instead showed continuous upward momentum. This signal aligns well with a corrective pattern after a pullback. After all, there is some support indication at the previous bottom, and a rebound is inevitable, but the extent of the rebound needs to be verified. The four-hour level has consecutively closed with solid bullish candles, indicating some strength. Although the short-term trend is bearish, the long-term profitability of going short at the current price level has begun to decrease. The long entry points suggested in the morning currently offer several hundred points of space, so it might be worth considering an exit. Based on the current pattern, we expect to see the price reaching the 96000 area in the short term. Only a strong breakthrough at this position can end the current downtrend.
Operational Suggestions:
Long positions in the 93300-93800 range for Bitcoin, targeting 96000.
Long positions in the 1760-1780 range for Ethereum, targeting 1880.
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