Tuesday Morning Bitcoin and Ethereum Analysis

Yesterday, in Old Wang's daily summary, it was mentioned that one could wait for the market to pull back before entering long positions. Currently, the market is indeed moving out, with a pullback happening overnight. It even reached Old Wang's expected entry zone around 3 AM before starting to rise towards the 107800 level. Following that, it started to pull back again. I wonder if any friends followed Old Wang's ideas during the night? This time, Old Wang brought the opportunity right to the mouth, and those who missed it during the night should seize the chance now and not fall into the trap of subjectively trying to catch the bottom halfway up!

From a technical perspective, the 15-minute chart shows an overall downtrend channel. The price is running close to the lower Bollinger band, and a long lower shadow has appeared. According to the MACD indicator, the red momentum bars are continuously increasing, while the fast and slow lines have also formed a golden cross below the zero axis; the RSI indicator has simultaneously shown an oversold signal, indicating that the bearish forces currently dominate the market in the short term, and we can consider buying on dips. On the hourly chart, the price just touched the middle Bollinger band in the early morning before starting to fall back, and it is currently running close to the lower Bollinger band. Meanwhile, the MACD and RSI indicators also show signals of bearish dominance in the market. Therefore, Old Wang believes that there will still be a pullback in the short term, although the downside space is limited. We can continue to follow the early morning strategy for a pullback to set up long positions.

Operational Advice:

Long in the range of 106500-107000, target 108000, with attention to the support level below at 106000.

Long in the range of 2420-2450, target 2520, with attention to the support below at 2400#币安钱包TGE $BTC .