Monday Afternoon Bitcoin and Ethereum Market Analysis and Trading Suggestions
Reviewing the earlier suggestion to go long on the pullback, which has perfectly materialized. The early market saw Bitcoin bulls surge to touch a high near the 107100 level, then subsequently faced resistance and fell back to around the 103800 level. Friends who followed the morning's strategy should have enjoyed a substantial gain of over 2000 points from the rally. Our real trading layout also captured over 1000 points. Later, Lao Tian will share the performance of our friends who followed our trades. Lao Tian has continuously emphasized the strategy of shorting at high points and going long at low points. Those who switched between long and short positions at high levels should also have made considerable gains. Currently, the real trading situation is at a relatively low level. Aggressive traders can consider taking light long positions to catch the rebound, while conservative traders should wait for suitable pullback points to set their long positions. We will continue to maintain the long position on pullbacks this afternoon.
From the current market structure, the daily structure is also in a series of rising candles. Recent multiple attempts to rise have frequently broken through the upper levels. Currently, the overall strength remains unchanged, and we are also in an upward trend. The daily chart shows a series of rising candles; the visibly lower points are continuously moving up, indicating a strong rebound in the short term. After several rising candles in the four-hour chart, the bulls have broken out to new highs. Although the current pullback provides some space, the overall market sentiment does not need much elaboration, and the pullback has only returned to yesterday's starting point. Moreover, after previous pullbacks, strong increases are unavoidable. For the entire trend, we do not claim to be bullish just because the price has risen; we have maintained a bullish outlook for a long time. In terms of trading, everything is based on corrections and adjustments to be completed, with a primary bullish rhythm. As the bulls return, we will continue to lead with a bullish approach and make long-term follow-up arrangements!
Afternoon Trading Suggestions:
Bitcoin 103200-103800 range, target 105500.
Ethereum 2320-2360 range, target 2450.
