5.8 Thursday Afternoon Bitcoin and Ethereum Market Analysis and Trading Suggestions

Bitcoin continued to release bullish momentum in the morning, briefly touching the daily high of 99374 during the session, and then entered a technical correction under the pressure of bears. Ethereum, on the other hand, showed a stronger one-sided upward trend, with significant daily gains, peaking at around 1917, forming a typical bullish staircase structure. Xiao Ge's thoughts in the morning and forenoon indicated a bullish direction, and the market moved as expected, setting up two trades.

Bitcoin: A long position was set up at 97700 to capture the upward wave, exiting at 9925 yuan for a profit, accurately securing a segment profit of 1550 points.

Ethereum: The long position strategy at 1810 was highly aligned with the market, ultimately realizing a profit at the resistance level of 1906, achieving a stable gain of 96 points. From the technical analysis of the chart, the 4-hour level candlestick chart once again formed a solid large bullish candlestick, which almost penetrated the upper channel of the Bollinger Bands, indicating strong bullish momentum. It is worth noting that when the price broke through the key resistance level, the bearish forces did not mount an effective resistance, with only scattered small bearish candlesticks appearing during the session, and the lack of bear resistance further verified the current market's one-sided strength. The channel shows a clear expanding trumpet shape, with the distance between the upper and lower bands continuing to widen, a technical formation that often indicates that the market is about to enter an acceleration phase. Combined with the MACD indicator, the fast and slow lines formed a golden cross above the zero axis and continued to diverge, with the red momentum bars showing a stepped increase, all these signals reinforce the reliability of the current upward trend. Looking at the 1-hour level chart, the price exhibits a perfect staircase-like upward characteristic. During the slight pullback in the afternoon session, this kind of upward trend without breaking is a typical characteristic of a bullish market.

Bitcoin: Long positions can be taken near 98600-98900, with a short-term target of 99800; if broken, then aim for 100500.

Ethereum: Long positions can be taken near 1890-1900, with a short-term target of 1950.