Monday Afternoon Bitcoin and Ethereum Market Analysis and Trading Suggestions
Review of the noon strategy by Lao Tian: Clearly indicated that breaking through the 106,000 level would be a signal to go long. This smooth upward trend during the day has likely been successfully captured by everyone. Starting from the morning, continuous suggestions for a long position were provided, with a more precise low position opportunity given at noon. Up to now, the long positions have already achieved a substantial profit margin of nearly 2,000 points, making this trading operation quite rewarding.
From the daily chart perspective, a successful breakthrough of the key resistance at 106,500 signifies a notable revival of short-term bullish momentum. The significance of this breakout is crucial in technical terms, and attention should be paid to its effectiveness as support going forward (although caution is needed for potential temporary volatility in the market, the breakout itself is a strong bullish signal). On the four-hour chart, after nearly three days of range-bound consolidation, the pattern converged and ultimately chose to break upward. Although there has not been strong unilateral continuation, the technical indicators have fully repaired and turned strong, showing an upward trend, clearly suggesting that short-term trading should lean towards bullish positions. The Bollinger Bands pattern has improved, and it is expected that the price will maintain a volatile upward rhythm between the middle and upper bands. In the short term, attention should be paid to the strength and amplitude of potential pullbacks, but the overall structure leans towards oscillation upward.
Future layout on the Silk Road: First, pay attention to pullback conditions for Bitcoin, looking to go long between 106,000-105,500, targeting 107,500. If the break continues, aim for 108,500. Remember that the current pattern is oscillating long; aggressively chasing long positions is not advisable, and one should adjust to long positions after pullback corrections.
