Don't be afraid of losses; they are just temporary setbacks. What you should fear is losing courage, not daring to go with the trend, and missing out on opportunities for a turnaround! Remember, real failure is not losing money, but refusing to move forward through the storm and not daring to embrace every fluctuation of the market! Be brave and go with the trend, let losses become stepping stones to success, and let every market wave witness our growth and brilliance!
As the market enters the early morning, since Wednesday morning, Bitcoin has shown a one-sided upward structure, and this morning it reached a new high of 109690, with a continued upward momentum. Ethereum rose to 2588 before pulling back slightly, and is currently back around 2580.
Overall, the intraday surge of the market has broken free from the constraints of the downward channel, but the continuous consumption of momentum will still slow down the upward speed. For a larger space, Bitcoin needs to break through the upper boundary of the daily chart, and the intraday focus will be on testing the pressure of the upper boundary.
On the four-hour chart, after completing a V-shaped structure, there has been a continuous upward trend, and the market is showing a six-day bullish trend, climbing to the upper band of the Bollinger Bands. All indicators at this level indicate strong bullish momentum; however, the bullish candlestick has a long upper shadow after touching the upper band, indicating certain pressure above in the short term. Additionally, the J value in the KDJ indicator has entered the overbought zone, and the three lines show signs of turning downwards, so the probability of a technical correction in the future market is quite high. From the hourly level, after experiencing four consecutive bullish candlesticks, the bears have given a certain pullback, and all three lines of the KDJ indicator have entered the overbought zone, forming a death cross downwards. Therefore, in the midnight trading, we can first observe the strength of the pullback and then operate with a low long strategy. $BTC
For midnight trading, Bitcoin reference is 108500-109000 long, looking at 100500-111500; Ethereum reference is 2550-2530 long, looking at 2630. $ETH
