The cryptocurrency market is highly volatile and unpredictable, with fluctuations causing joy for some and concern for others, but you can also be among the former. After a pullback to around 117,000 in the early morning, Bitcoin rebounded, and Zhuo Wei promptly arranged for students to go long, taking profits at 118,000, achieving a gain of 1,093 points and accurately capturing the market movement.
From a technical perspective on an hourly basis, although the price is at the lower band of the Bollinger Bands, the continuous lower shadows below indicate that the bears are being blocked, with strong support. The bulls are reclaiming lost ground, and a short-term stabilization or rebound may occur.
Saturday's trading recommendations:
Bitcoin: Go long around 117,500, target 119,500
Ethereum: Go long around 3,520, target 2,700
