Thursday Morning Bitcoin Ethereum Market Analysis and Trading Suggestions
Bitcoin rebounded after hitting a low in the early morning, bullish momentum is building up!
Looking back at the early morning market, Bitcoin's price successfully stopped its decline and rebounded after touching a low of 103426, and is currently steadily rising, gearing up to challenge the key level of 105000. This trend perfectly validates our bullish strategy proposed at midnight. Ethereum also stabilized after hitting a low of 2465 in the early morning.
After a previous decline, Bitcoin has shown a continuous slight rebound during the day, with prices steadily moving upwards. Although the rebound pace is somewhat gentle, as time goes by, the upward momentum after the pullback is expected to strengthen, and breaking through the short-term resistance is just a matter of time. The short-term structure shows that although prices are slightly under pressure and have experienced a slight pullback, the downward momentum has significantly weakened, indicating that the bearish force is exhausting. Currently, the bullish trend still dominates. In morning operations, the focus remains on buying low, particularly watching if Bitcoin can effectively break through and hold the 106000 level.
Trading Suggestions:
Buy Bitcoin in the range of 104000-104500, target at 106000.
Buy Ethereum in the range of 2480-2510, target at 2580.
