5.9 Friday Afternoon Analysis
After a period of fluctuation and consolidation at the beginning of this week, Bitcoin has started a strong upward trend, continuously setting new historical highs. Today, it once again broke through the critical integer level of 100,000 and stabilized, continuing the bullish trend and setting new highs. The current market shows a typical one-sided step-like rising characteristic, where each day's high will become the support level for the next day, showing a trend of continuous upward movement after a pullback to gather strength.
The 1-hour chart presents a standard one-sided upward channel, with the 100,000 level having transformed into the primary support level. Given the current large volatility, this position can serve as an important reference point for long positions.
It is recommended to maintain a bullish mindset in operations, primarily focusing on going long at key support levels.
Afternoon long positions for Bitcoin at 102,000-101,500, with a target range of 105,000.
Long positions for Ethereum at 2,200-2,170, with a target range of 2,350.
