Friday Afternoon Bitcoin and Ethereum Market Analysis and Trading Suggestions
Hello friends, good afternoon! When investing, it is essential to first establish the correct investment philosophy, as this is the root of everything. Next, manage your position and funds well, and importantly, maintain a good mindset. Don't be arrogant when you earn, and don't be discouraged when you lose. Additionally, supplement this with solid technical skills, and continue on the correct path.
Looking back at the short-selling idea given by Lao Tian this morning, although the actual market did not pull back as we expected, the bullish trend remains strong. The market is showing a back-and-forth tug-of-war in a range-bound oscillation. Lao Tian's strategy this morning suggested trying a light short position to catch a wave of pullback, and friends who followed this should have gained nearly a hundred points in the actual market. Currently, the market is fluctuating and consolidating around the 102500 level, and we continue to maintain the idea of buying on pullbacks this afternoon.
On the daily chart of Bitcoin, there is a very clear large bullish candlestick confirming a one-sided pattern. The 4-hour structure is continuously moving upward with consecutive bullish candles. After a few small pullbacks for correction, it has initiated another upward probe. The pullbacks have not provided significant space, and the energy has rapidly increased during the process, indicating strong momentum. In the short term, the market is still in a slow rising blue sky pattern, with waves of increases continually refreshing the highs. Currently, it is also consolidating and repairing near the highs, so our trading suggestion for today remains to look for pullbacks to buy.
Afternoon trading suggestions:
Bitcoin: Buy in the range of 101800-102300, target 104500.
Ethereum: Buy in the range of 2155-2175, target 2280.
