Wednesday afternoon Bitcoin and Ethereum market analysis and trading suggestions:

     The daily level has once again closed in the green, with Bitcoin opening above the middle band this morning, slowly entering a continuation rhythm in the short term. As stated before, as long as the price stabilizes above the middle band, the rhythm and trend belong to the bulls; every pullback is an opportunity to go long. Currently, the daily chart has formed two consecutive bullish candles, and there is an expectation for continuation today. The trend and short-term outlook remain strong. On the four-hour level, the Bollinger Bands are opening upwards, and after Bitcoin peaked and broke above the upper band, it has continued to extend. In the smaller cycle, a sequence of five small bullish candles has emerged, and it continues to expand, albeit slowly, which still constitutes a healthy upward movement. For today’s trading, we maintain our follow-up on bullish positions.

Trading Suggestions

On Wednesday, Bitcoin can be bought around 105,500, with an initial target of 107,500.

Ethereum can be bought around 2,420, with a target focus on 2,490-2,540.