Friday BTC.ETH Morning Report!
Thursday was another legendary day! Everyone can check the battle reports from the past few days; all posts were made in advance, with no fluff!
Currently, from the four-hour level perspective, Bitcoin is showing a strong upward trend with consecutive bullish candles, but the current bullish trend has shown signs of being blocked and slowing down. After consecutive bullish candles, the recent candlestick bodies are gradually narrowing, and some periods have shown upper shadows, indicating that selling pressure from above is starting to be released, and the bullish momentum is weakening, causing the upward rhythm to slow down.
From the perspective of trading volume, if the trading volume increases during the upward phase, it can validate the effectiveness of the bullish momentum; however, if the trend is blocked and the trading volume does not continue to follow up or even shrinks, it suggests that the bullish forces may be insufficient, and the market may enter an adjustment phase.
In addition, it is important to pay attention to whether the current price has reached previous resistance levels or important moving averages. If stagnation occurs in this area, it will further confirm the state of the bulls being blocked, and short-term pullback demand may increase accordingly. Support can be observed at the recent pullback lows during the upward process and the positions of short-term moving averages.
In summary, it is recommended to focus on high short positions:
$BTC Bitcoin short near 114000, target 111800.
$ETH Ethereum short near 2820, target 2760.
