5.9 Friday Afternoon Bitcoin and Ethereum Market Analysis and Trading Suggestions

The morning market showed a narrow range of fluctuations, with Bitcoin prices repeatedly consolidating in the range of 102330 to 103270, forming a clear tug-of-war situation. The horizontal consolidation during this phase exhibits typical box fluctuation characteristics. Although Ethereum had a slight upward movement during the morning session, it soon entered a technical correction phase and is currently in a critical consolidation period. The bullish outlook provided by Xiaoge in the morning gave short-term opportunities as well.

From the 4-hour candlestick chart, after experiencing a steady rise with consecutive bullish candles, the market has now entered a consolidation platform period. The price fluctuation range has noticeably narrowed, forming a typical flag consolidation pattern. Although short-term momentum has weakened, technical indicators still maintain a relatively strong characteristic. On the 1-hour chart, it is clearer that prices are consolidating horizontally above the middle band of the Bollinger Bands. Despite the short-term trend showing a state of stalemate, the overall Bollinger Bands channel remains open upwards, indicating that the market is still in a bullish-dominated environment. The volume indicator shows that market enthusiasm for chasing prices has cooled down. For the afternoon trading session, it is recommended to adopt a more flexible trading strategy of buying high and selling low, which can both capture short-term volatility opportunities and effectively control risk exposure.

Bitcoin: Buy near 102300, short-term target 104000

Ethereum: Buy near 2230, short-term target 2320