Friday Night Bitcoin and Ethereum Analysis Summary

In the early hours of Saturday, the cryptocurrency market experienced fluctuations again. In the afternoon, after a second test of the key support level below, the market initiated a technical rebound as expected. Bitcoin reached a daily high of 106,500, while Ethereum simultaneously climbed to 2,568, confirming the short-term market resilience. Since Wednesday, the market has gone through multiple fluctuations, and this rebound aligns with technical expectations. Although the market once again retested the 102,200 area and stabilized, and the night-time long position strategy hit the stop loss, the overall daily profits significantly covered this risk exposure. To seize opportunities in the market, the key lies in grasping the market rhythm rather than blindly chasing highs and cutting losses; otherwise, even if good opportunities arise, they may be difficult to turn into actual gains.

Current market conditions show that the early market first retraced and then tested the bottom again, but the structural support below is strong. After a brief pullback, bulls pushed prices higher once more. Although the rebound exhibits a gradual recovery characteristic, it highlights the strength of the bullish support. On the hourly chart, prices are oscillating under pressure between the upper and lower bands of the Bollinger Bands. Although there has yet to be a strong breakout above the previous high, the underlying support remains solid, and the low points of the retracement are gradually rising, suggesting that the market is in a phase of consolidation. Combined with the possibility of a hammer candlestick forming on the daily chart, the short-term range oscillation pattern may continue. Overall strategy-wise, Old Wang suggests focusing on bullish positioning after a pullback, taking the opportunity to establish long positions during the consolidation phase.

Operational Advice:

Bitcoin range 102,500-103,000, target 104,000

Ethereum range 2,380-2,400, target 2,500, 2,824, 810, 387, 747, 539, 989, 930