$BTC 7.19 Saturday Early Morning Bitcoin and Ethereum Market Analysis and Trading Suggestions
Today's market showed a volatile trend with an initial rise followed by a decline. Bitcoin made a strong rebound from the intraday low of 119003, reaching a high of 120846 before facing a bear counterattack, then fell back to the support level of 118384 and stabilized, ultimately rebounding again. Ethereum's movement was highly synchronized with Bitcoin, peaking at 3674 in the early session before entering a consolidation phase, and retreated to 3530 in the evening to gain support.
In terms of trading strategy, we maintained a bullish outlook throughout the day, accurately grasping the market rhythm. The specific trading records are as follows:
Early Morning Period: Bitcoin entered a long position at 118400, with a take profit at 120700, gaining 2300 points.
Ethereum entered a long position at 3374, with a take profit at 3482, earning 108 points.
Morning Period: Bitcoin laid out a long position at 119100, with a take profit at 120600, earning 1500 points.
Ethereum entered a long position at 3462, with a take profit at 3613, gaining 151 points.
Evening Period: Bitcoin entered a long position at 118600, with a take profit at 119300, gaining 700 points.
Ethereum entered a long position at 3602, with a take profit at 3662, earning 60 points.
A total of 6 trades were completed throughout the day, all achieving expected returns, demonstrating precise market judgment and robust trading strategies.
From the current 4-hour chart analysis, market sentiment has gradually returned to rationality from the previous state of excitement. After three consecutive bearish candles, the market has stabilized, forming a clear technical correction pattern. The momentum for a one-sided rise has temporarily halted, serving to correct the previous overbought indicators. From a technical structure perspective, the middle line of the Bollinger Bands is moving upwards, providing good dynamic support for the price. Although the short-term moving average system shows signs of flattening, the medium to long-term moving averages still maintain a healthy bullish arrangement, indicating that the mid-term trend of the market has not changed. Such technical corrections are very common in a bull market, as they both digest short-term profit-taking and offer better entry opportunities. A healthy rise must be accompanied by pullbacks, and our mindset remains unchanged, treating it with a strategy of buying on dips.
Bitcoin: Buy near 116800-117300 with a short-term target of 119500.
Ethereum: Buy near 3550-3520 with a short-term target of 3680.
