Wednesday Afternoon Bitcoin and Ethereum Market Analysis and Trading Recommendations
The price of Bitcoin formed strong support around 104115 and has broken through to the current highest point, with strong upward momentum. The tendency to break through is very obvious, and new highs are expected. Ethereum is on a rising trend today. This proves that our layout in the morning was successful.
In the 4-hour chart of Bitcoin, there was a second dip and rebound, with a strong bullish candle breaking the weak downtrend. The downward channel is not very strong, stabilizing at the lower track, showing signs of a double bottom rebound. For this kind of volatile market, we still adopt the strategy of buying low and selling high.
Bitcoin around 106500 target 28500
Ethereum around 2560 target 2700
