Saturday Afternoon Bitcoin and Ethereum Market Analysis and Trading Suggestions
Looking back at yesterday evening's suggested strategy of buying on the dips, Lao Tian also mentioned that we should first look for a pullback to enter the market. Last night, we saw a pullback that reached the 104000 line before stabilizing. After executing a long position, the market immediately rebounded, gradually recovering the drop. In the morning, Bitcoin reached a high of 106173 before facing resistance. Friends who followed the back-and-forth strategy of long and short from last night should have made profits. Currently, the market is consolidating around the 105300 area. Ethereum also dipped to around 2508, finding support and not moving further downward. In the morning, it fully recovered the evening's losses thanks to bullish momentum. The current price is retreating with Bitcoin, running around 2550.
From the four-hour level, Bitcoin is in a low-level oscillation and consolidation pattern. After stabilizing around 105000, it has established a stepped recovery structure, with an overall healthy and slightly strong technical pattern. The MACD indicator has shown slight bullish divergence, and the fast and slow lines are expected to turn upward near the zero axis, indicating that short-term bullish momentum is accumulating. In the short cycle: although the price recorded four consecutive downward candles, the support below is strong. The short-term pullback can be seen as a technical adjustment to build strength for future upward movement. As we approach the weekend, we expect market volatility to narrow. Given the positive repair signals in the technical analysis and solid support, we will continue to maintain a bullish outlook at noon, suggesting focusing on buying on dips during the oscillating market.
Trading Suggestions:
Bitcoin in the 104500-105000 range, looking at 106000.
Ethereum in the 2500-2530 range, looking at 2600.
