Saturday Afternoon Bitcoin and Ethereum Market Analysis and Trading Suggestions
Looking back at the afternoon, Lao Tian provided a pullback to long strategy. In the afternoon, the market indeed pulled back to the range mentioned by Lao Tian, around the 104700 level, and began to rebound. Similarly, during the live trading, we executed a short position in the afternoon for a quick profit of 567 points. Friends who followed the strategy have also made considerable profits from both long and short positions. Currently, the market is consolidating within a narrow range. The same goes for Ethereum, which is supported near 2525 below. We will continue to maintain the pullback to long strategy in the afternoon; aggressive traders can consider taking a small long position for a short-term rebound, while conservative traders should continue to wait for opportunities.
From the current hourly chart structure, although the price is exhibiting a downward trend, multiple small-bodied candlesticks are interspersed, indicating that the market is undergoing a contraction phase. It is noteworthy that the price is running below the middle line of the Bollinger Bands and is gradually approaching the lower line, which usually means that the market is in a short-term weak consolidation phase. However, nearing the lower line often indicates that bearish strength is gradually weakening, and a technical rebound may be brewing. Current technical indicators are beginning to show signs of a rebound intention, although momentum signals still need confirmation from trading volume. Overall, the market atmosphere remains cautious, but short-term downward momentum is weakening, and the demand for a technical rebound has not been fully released. We need to pay close attention to the strength of the support at the key level of 104700; if it stabilizes, we may challenge the resistance area around 106000.
Trading Suggestions:
Go long near 104500 for Bitcoin, targeting around 106300.
If it falls below the 104500 level, it would not be too late to reverse.
Go long near 2500-2520 for Ethereum, targeting around 2600.
#美国加征关税
Looking back at the afternoon, Lao Tian provided a pullback to long strategy. In the afternoon, the market indeed pulled back to the range mentioned by Lao Tian, around the 104700 level, and began to rebound. Similarly, during the live trading, we executed a short position in the afternoon for a quick profit of 567 points. Friends who followed the strategy have also made considerable profits from both long and short positions. Currently, the market is consolidating within a narrow range. The same goes for Ethereum, which is supported near 2525 below. We will continue to maintain the pullback to long strategy in the afternoon; aggressive traders can consider taking a small long position for a short-term rebound, while conservative traders should continue to wait for opportunities.
From the current hourly chart structure, although the price is exhibiting a downward trend, multiple small-bodied candlesticks are interspersed, indicating that the market is undergoing a contraction phase. It is noteworthy that the price is running below the middle line of the Bollinger Bands and is gradually approaching the lower line, which usually means that the market is in a short-term weak consolidation phase. However, nearing the lower line often indicates that bearish strength is gradually weakening, and a technical rebound may be brewing. Current technical indicators are beginning to show signs of a rebound intention, although momentum signals still need confirmation from trading volume. Overall, the market atmosphere remains cautious, but short-term downward momentum is weakening, and the demand for a technical rebound has not been fully released. We need to pay close attention to the strength of the support at the key level of 104700; if it stabilizes, we may challenge the resistance area around 106000.
Trading Suggestions:
Go long near 104500 for Bitcoin, targeting around 106300.
If it falls below the 104500 level, it would not be too late to reverse.
Go long near 2500-2520 for Ethereum, targeting around 2600.
#美国加征关税
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BTC
105,562.03
+0.61%
ETH
2,546.55
+1.16%