Friday Evening Bitcoin Ethereum Market Analysis and Trading Suggestions
Reviewing the afternoon's approach to buy on the dip, the real-time market retraced near the 110500 line, followed by a swift rebound reaching around 111300. Our afternoon strategy was perfectly executed. We had set up a short position in the afternoon to catch a wave retracement, but we didn't enter the market in time, unfortunately getting stopped out by over a hundred points. After all, those who walk by the river may get their shoes wet; a small loss won't change our firm belief in the strategy of shorting high and buying low. Currently, the market shows significant volatility, and there are opportunities for both long and short positions at the right levels. Friends, you must control your hands and strictly manage your positions. The real-time market is currently oscillating around 111100, and we will continue to maintain the buy on the dip strategy this evening.
In the 4-hour chart, Bitcoin is supported by the 110000 level and the middle Bollinger Band, forming a bullish divergence. In the short term, we should continue to maintain low positions with the middle band as a defensive line. If it falls below the middle band, we will adjust accordingly. The 1-hour chart shows an upward trend line formed as the lows rise, with trend line support coinciding with the middle Bollinger Band support around 108000. Therefore, in the evening, we can participate by buying on the dip above the middle band support. Aggressive traders can choose to take a light short position on the short-term market and wait for a retracement, while conservative traders should wait for a retracement to build strength before entering.
Trading Suggestions:
Buy Bitcoin in the 110000-110500 range, targeting 112000.
Buy Ethereum in the 2600-2640 range, targeting 2700.
