Friday Afternoon Bitcoin and Ethereum Market Analysis and Trading Suggestions
You study candlestick patterns until your eyes go blind, and it suddenly throws a pin bar; just when you go all in, it immediately teaches you a lesson. Liquidation is as easy as drinking water, and missing out is even more painful than being stuck? Don’t hold on stubbornly, brother! Instead of racking your brain over the market until you go bald, it’s better to follow the right person and enjoy a worry-free life. Veterans sense the trend, novices stand on the right team, the market may punish you a thousand times, but someone leading you will still help you earn! Understand?
In the morning, the big coin fell as expected and then made a relatively strong rebound. After taking profits on the short position, we entered a long position in line with the trend. Currently, the overall structure shows a range-bound pattern, and the big coin is fluctuating around the 107400 level. Although the range-bound market presents challenges, it is also a good opportunity for both bulls and bears to accumulate profits. Lao Tian has a precise grasp of the rhythm in this type of market.
Technical analysis: Although the big coin has temporarily stabilized above the middle track, the upper track pressure includes the upper Bollinger Band and the previous high of 108900, forming a double resistance, limiting the rebound space. The MACD death cross pattern continues, and although there are signs of a reduction in momentum bars, it still operates in the bearish area below the zero line, indicating insufficient bullish momentum. The current rebound seems more like a technical correction of a downward continuation. The Ether seems slightly stronger in structure but is actually weak internally. Once the big coin starts a new round of decline, Ether will most likely follow with a significant drop. In the short term, the bearish trend may continue, and attention needs to be paid to the support level below. This afternoon, we still maintain a bearish outlook, and any rebound is an opportunity to enter short positions.
Trading suggestions:
Big coin range 107500-107800, target 105500
Ether range 2460-2480, target 2380.