Friday Afternoon Bitcoin and Ethereum Market Analysis and Trading Suggestions
In the morning, the market showed a pattern of a tug-of-war between bulls and bears, with prices primarily fluctuating between 104200 and 104800. Our bullish outlook in the morning was to establish long positions near 104000, aiming for a target of 105800. Currently, the price has rebounded to around 104700. We will continue to maintain our bullish mindset in the afternoon! A pullback is a good opportunity to establish long positions.
In the afternoon, the market continues to maintain a range-bound fluctuation between bulls and bears. From a technical perspective, on the candlestick chart, prices encountered significant resistance near 105000 and found support around 104000. The current candlestick pattern shows small real bodies alternating between bullish and bearish candles, indicating that both sides are still fiercely competing. The MACD indicator is operating near the zero line, with the fast and slow lines crossing multiple times without forming an effective breakout, further confirming that the market is in a typical consolidation phase. In the short term, a "buy low, sell high" strategy can be adopted within this fluctuation range.
Trading Suggestions:
Long positions in Bitcoin between 104000-104500, target 105500.
Long positions in Ethereum between 2490-2510, target 2550.
