The Bitcoin market is experiencing waves again. After the price tested the bottom support once more, it immediately started a rebound correction. Bitcoin reached a high of 104,162 in the early morning, while Ethereum simultaneously surged to around 2,603. This reflects the market's short-term resilience. Since Wednesday, the market has gone through several fluctuations, and this wave of bottom testing and rising was within my expectations. In the early morning, I also provided a bullish strategy and levels as planned. We are waiting for stabilization below the 101,400 level before further increasing our long positions, until we alerted to exit after the early morning rise to the 104,000 level, capturing over 2,600 points of space. After Ethereum stabilized at the 2,480 level, we indicated to enter long positions, until it rose to around 2,600 in the early morning, also perfectly capturing 120 points of space. To do well in this market, one must not think of shorting when it falls and going long when it rises; such thinking will only backfire. The market is indeed good, but without a good analyst to guide you, even the best opportunities can slip through your fingers. Recently, I have also adjusted my thinking and plans for practical strategies, and the market sentiment is quite heated. Those in need can directly contact Lao Chen.
From the current market perspective, the daily level is replenishing yesterday's shadow line after a bearish close. The daily structure is still in a high-level contest, with fierce long and short battles. The strong rebound of the bulls during the day has resulted in insufficient continuation of the short-term weak adjustment. The limitation from yesterday at the daily level has also shifted from a weak correction to a strong oscillation rhythm, re-confirming the support area. After the four-hour level touched the lower track, it has formed a consecutive bullish trend, with solid candlesticks that have reclaimed above the middle track. This wave of downward probing has transformed from the previous strong bullish momentum to a stronger oscillation process, albeit with a winding and repetitive nature. However, it is still a correction within a bullish upward trend. In the short term, the market will still be relatively volatile. For direction, maintain a bullish outlook first; after encountering upward pressure, look for shorting opportunities. Therefore, under this structure, every pullback is an ideal opportunity to go long.
Trading Suggestions:
On Friday morning, Bitcoin can go long at 102,500-102,000, aiming for around 105,000; if broken, look to continue upwards.
Ethereum can go long at 2,500-2,480, aiming for 2,600-2,650.