$BTC Cryptocurrency baptism tests faith, lurking in the low valley only to rise high. Setbacks sharpen will, further igniting the desire for victory. Yesterday at midnight, Bitcoin first rose to a high point of 119550 before facing pressure and retreating, until the price touched a low of 118709 before stopping, and then rebounded again, with the price reaching a high of 119747 in the early morning. Ethereum's market moved in sync with Bitcoin, with the price rising to a high of 3868 before retreating, until it touched a low of 3816 in the early morning and then rebounded. At midnight, Yang Jie’s team respectively entered positions in Bitcoin and Ethereum at 118747 and 3809, with Bitcoin gaining 950 points and Ethereum gaining 51 points.
From the market performance, the daily level showed a rebound after three consecutive bearish candles followed by two consecutive bullish candles. The Bollinger Bands maintain an upward opening shape, with the middle band moving up simultaneously, and the previous bearish candles all having long lower shadows, highlighting the strong support characteristic of the middle band. As long as this position is not broken, the probability of continued bullish movement is relatively high. Switching to the four-hour level, the market shows a stepwise upward characteristic, with prices continuously approaching the upper band of the Bollinger Bands. The current candlestick has formed a pattern of consecutive bullish candles, with the overall trend clearly dominated by bulls. However, attention should be paid to the long upper shadows left during the upward movement of bullish candles, indicating certain selling pressure above, so the market is likely to first experience a technical correction before embarking on a new round of upward exploration.
On Monday morning, it is recommended to establish long positions in Bitcoin in the 118500-119000 range, targeting 123000.
On Monday morning, it is recommended to establish long positions in Ethereum in the 3810-3840 range, targeting 3950#ETH重返3800 .
