5.9 Morning Thoughts
The strong upward trend in the market continues, showing no signs of a top. The daily chart has seen consecutive bullish candles, further confirming the one-sided upward pattern. On the four-hour chart, the upward trend is very clear, with each pullback being quick and limited in extent, and the bulls continuously refreshing their highs. During the sustained attack of bullish candles, the energy rapidly amplifies, which is usually not a top signal. In the short term, it is highly likely to continue the rhythm of fast rises and slow pullbacks.
The candlestick chart has seen four consecutive bullish days, forming a solid bullish arrangement. At midnight, it successfully broke through the upper Bollinger band resistance, demonstrating strong buying momentum. From the one-hour level, after experiencing four consecutive bullish candles, the bears have given a certain counterattack, and the price has started to retreat. However, the Bollinger bands are opening upward, the MACD indicator values are in the positive range, and the fast and slow lines are running above the zero axis and continue to extend upward, indicating that the overall trend will not change and remains bullish. Therefore, in the morning operations, we will adopt a low long strategy after a pullback.
Bitcoin: Long near 102000, target around 104500
Ethereum: Long near 2160-2180, target around 2260
