Xian Ge Market Analysis:
Looking back at the market, Bitcoin continued its strong downward trend late last night, with the price dropping all the way down, touching a low of 100305 in the early morning before stopping the decline, and then starting to rebound. Ethereum's movement synchronized with Bitcoin, continually declining, with a minimum reaching around the low of 2392.
From a technical analysis perspective, on the four-hour level, the market broke below the lower Bollinger Band with a three consecutive bearish candle pattern, and the Bollinger Band opened significantly downward, indicating that the downward space has been completely opened, with strong bearish momentum. The price continues to refresh the lows, and there has not been any obvious support level below, with bullish strength completely suppressed by bearish forces, showing no signs of recovery. Therefore, in the morning operation on Friday, we still expect a bearish downward trend after the price rebounds.
Trading Suggestions:
For Bitcoin, open a long position at the current price, targeting 103500.
For Ethereum, open a long position at 2630 with profit-taking pending, and set a stop-loss at the new low.
