$BTC 7.16 Wednesday Evening Bitcoin and Ethereum Market Analysis and Trading Suggestions
Today's business trip schedule is tight, resulting in a slight delay in strategy updates. The market continues to show a strong bullish trend, with Bitcoin's price reaching a high point of 119,299; Ethereum closely follows Bitcoin's trend, rising simultaneously to a high of 3,188. We accurately positioned Bitcoin long orders at 117,500 and took profits at 119,000, successfully capturing a space of 1,500 points. For Ethereum, after entering long orders at 3,076, we exited at 3,170, securing a stable gain of 94 points. The overall trading rhythm was precise, achieving the expected returns.
From the current market trend analysis, after a series of consecutive bullish candles, the market finally experienced a technical pullback yesterday. With rich practical experience, Xiao Ge accurately predicted the arrival of this technical adjustment in advance and provided ideas ahead of time. From a technical perspective, yesterday's pullback showed obvious characteristics of reduced volume, with no significant signs of large-scale capital outflow, laying a solid foundation for today's rebound. After sufficient consolidation and energy accumulation, the bulls demonstrated strong rebound momentum during the Asian session and have successfully recovered most of yesterday's losses. For evening trading strategies, we continue to look for a continuation of the bullish trend.
Bitcoin: Buy around 118,000-118,500 Short-term target 120,000
Ethereum: Buy around 3,150 Short-term target 3,230
