$BTC $ETH Saturday Afternoon Bitcoin Ethereum Market Analysis and Trading Suggestions
The morning market continued to decline, with Bitcoin reaching a low of 106700, followed by a phase of consolidation. It is currently hovering around 108100. From an overall trend perspective, the market has entered a consolidation period after a significant pullback, and it is expected that Bitcoin will fluctuate in the range of 107000-109000 over the weekend. A strategy of buying low and selling high can be adopted to seize short-term volatility opportunities. Aggressive traders may currently try small long positions to capture rebound space.
Technical Analysis
- Bitcoin (BTC): The 4-hour level shows a bearish pressure situation, entering a consolidation phase after consecutive bearish candles. Although there are occasional short-term rebounds, the volume is insufficient, and the moving average system still shows a downward pressure, necessitating caution against a second bottom risk. If the MACD shows a bullish divergence signal accompanied by increased volume, a stronger rebound may be on the horizon.
- Ethereum (ETH): The trend follows Bitcoin, with short-term support in the 2500-2520 range. If it stabilizes, a rebound towards 2600 is expected.
Trading Suggestions
- Bitcoin (BTC):
- Long Position: Enter in the 107500-108000 range, target 109000, stop loss below 106500.
- Ethereum (ETH):
- Long Position: Enter in the 2500-2520 range, target 2600, stop loss below 2480.
Current market sentiment is cautious, suggesting light position trading, strict stop losses, and waiting for clearer trend signals.
