Monday Morning Thoughts, Bitcoin and Ethereum Latest Market Analysis
Looking back at yesterday's bullish strategy, it was perfectly realized. In the midnight live trading, it dipped to a low near 103300, and then rebounded, reaching a high around 105300. Old Tian continuously mentioned during the weekend to sell high and buy low within the range, friends who followed this strategy gained a lot, realizing nearly a thousand points in profit. Currently, live trading is fluctuating around 105100. We suggested a buy on the pullback this morning. Aggressive traders can try to take a small position and see if the upward trend continues, while for those being cautious, it is wise to patiently wait for a pullback opportunity to decisively enter long positions.
Short-term has started to show a narrowing range, so entering a consolidation phase next is highly probable. It is expected that the white board will not show too much volatility today, and the madness should calm down. The constant ups and downs feel like the New Year celebrations, where all we hear is explosion after explosion. The weekly double tops have shown a strong recovery after a pullback, and in such a strong recovery rhythm, the significance of shorting has diminished. Structurally, the trend remains bullish, which has become very clear from the upward space of Bitcoin since early morning. Currently, the small cycle is experiencing a local rebound and stagnation, with the support at the bottom continuously rising slowly. Considering the recovery after the pullback, there is particularly limited room for a big correction; even if there is a spike, it recovers in a timely manner. This Monday morning, we treat it with a corrective fluctuation; there will be ample opportunities for both longs and shorts with a large volatility base, so manage risks and follow up accordingly.
Morning Trading Suggestions
Bitcoin range: 104000-104500, target 105000.
Ethereum range: 2370-2400, target 2550.
