Sunday Afternoon Thoughts: Latest Market Analysis for Bitcoin and Ethereum
Looking back at yesterday, the strategy of high selling and low buying within the range was perfectly executed. The actual trading oscillated between the range mentioned in Lao Tian's strategy, and we continuously emphasized that both long and short positions had opportunities in the short term. During the midnight layout, we gained 1286 points in space before exiting, and later during the day, we again gained 1199 points in space before exiting. Currently, the actual trading is oscillating and consolidating near the 103300 level, and we are providing high short and low long strategies for the afternoon.
The 4-hour chart for Bitcoin is currently under pressure at the 106000 level. Considering the daily moving averages, there is a need for correction, and in the short term, there may be a local pullback. The upper level of 105000 will serve as the consolidation defense point. In the short term, we will attempt short positions while watching for support near the rising trend line around the 100000 level to see if it stabilizes or breaks. Currently, the short-term situation is undergoing a pullback or correction. Short-term operations should combine the hourly chart pattern to define the range for high short and low long positions.
The 4-hour chart for Ethereum shows that the upward channel trend line serves as a critical point for bulls. As long as the trend line is not broken during the pullback, the main strategy remains to maintain low long positions. Currently, the support of the trend line coincides with the high point of 2400. If it can maintain a certain distance, the short-term oscillation rhythm is unlikely to have a deep pullback, and it may continue to consolidate horizontally around the median. The first support is seen near the middle track, and the second is at the high point of 2400, looking for entry points based on the hourly candlestick patterns.
Operation Suggestions:
Bitcoin: Buy in the 102300-102800 range, targeting 104000.
Ethereum: Buy in the 2420-2470 range, targeting 2550.
