Thursday Afternoon Strategy for Bitcoin
Bitcoin has been rising relatively slowly recently. Although it reached new highs a few days ago, it seems to have stalled now. The rebound this noon has become weaker, and each time it approaches key resistance levels, it gets pushed down, indicating that there are quite a few sellers above. The market is currently cautious and doesn't dare to chase high prices easily.
In contrast, Ethereum (referred to as 'Auntie') is performing stronger than Bitcoin. After dropping to 3311 in the morning, it quickly rebounded and almost recovered all the losses, with potential for further gains. Short-term support is slowly rising, and after a pullback, it could be considered for a low long position.
Bitcoin is currently oscillating near the middle band on the 4-hour chart and has not yet truly broken through, while Ethereum's trend is relatively strong, presenting opportunities for long positions after a pullback.
Trading Advice:
🌱 Lightly enter Bitcoin near 1186-1188, targeting around 1170.
