8.6 Evening Bitcoin and Ethereum Insights and Recommendations
From the hourly Bollinger Bands, the three lines are very close together, indicating that the channel is narrowing, which suggests that short-term market volatility has decreased, and both bulls and bears have reached a temporary stalemate. The market may soon need to choose a new direction.
Bitcoin has previously successfully broken above the middle band and is now stabilizing between the middle and upper bands, with the middle band slowly moving upwards. This indicates that short-term bulls have a slight advantage, and the middle band will be an important support level in the short term.
Bitcoin trading strategy: Retrace to around 112850-113750, looking to rise to around 116000.
Ethereum trading strategy: Retrace to around 3524-3576, looking to rise to around 3755.
Personal advice, for reference only!
The trading team still has positions; they will never let fans get liquidated! Get on board quickly!
Continued focus: BCH MYX ILV BNB ETH ENA
