Wednesday Afternoon Bitcoin and Ethereum Market Analysis and Trading Suggestions
On the journey in the cryptocurrency world, even if the road ahead is fraught with thorns, please always carry an optimistic heart and bravely move forward. Every figure striving for trading deserves to be remembered, and every persistent effort will eventually shine in the market and reap fruitful results.
On Wednesday afternoon, Bitcoin's market continued to fluctuate, with prices retreating from the high point of 105800, dropping to a temporary stabilization at the low point of 105200. Ethereum's trend was similar, with prices rising to a high of 2644 before quickly declining, then oscillating around the vicinity of 2620.
From an hourly chart analysis, the market has shown a significant pullback, and the overall market is still under pressure. The MACD indicator shows signs of flattening, indicating that the market is in a consolidation phase, and the trend direction is still unclear, reducing the reference value of the indicator signals. Currently, both bullish and bearish forces are in a stalemate, with strong resistance above and support below, and the market direction needs further clarification. Based on this, the afternoon trading suggestion is to adopt a strategy of shorting high and longing low.
Specific trading suggestions:
- Bitcoin: Try going long around 105000, with a target price of 106500;
- Ethereum: Place long orders around 2600, with a target price set at 2660.
