Monday Afternoon Bitcoin and Ethereum Market Analysis and Trading Suggestions
Looking back at the low buy strategy provided in the morning, Lao Tian mentioned to wait for a confirmation below before setting up long positions. In real trading, as expected, after a pullback to around 105000, it stabilized and began to rebound. We successfully exited with a profit of 738 points. In the afternoon, we continue to hold the strategy of buying on pullbacks. Currently, the market is fluctuating around the 105800 level in a short-term consolidation at a relatively high position. Lao Tian does not recommend blindly chasing long positions at this moment. Aggressive traders can consider a small position for a brief trade; if the price breaks upward past 106500, we can look to short thereafter.
Bitcoin has stabilized and rebounded from a low of around 102600 in the 4-hour chart. After a volume increase, the upward momentum has slightly slowed down, changing from a strong uptrend to a choppy consolidation. The market will continue to experience repeated highs and pullbacks, with short-term fluctuations choosing to build momentum for the mid-term trend. The short-term rhythm is cautious, and in conjunction with yesterday's movements, the trading strategy should be ultra-short-term, focusing on precise entry points, with fluctuations taking precedence over trends. Currently, there are no clear signs of a one-sided trend, so it’s important to grasp the high and low points within the range. Caution is advised against a gradual rise followed by a probing high and a drop back down.
Trading Suggestions:
Bitcoin: Buy in the range of 104500-105000, target 106500.
Ethereum: Buy in the range of 2520-2540, target 2600.
