The morning price of Bitcoin at $ETH stabilized around 122300 and quickly rose by over 1500 points to reach a high of 124474. It then faced pressure and dropped to a low of 123250, consolidating before rebounding back to around 123700. Ethereum is experiencing intense competition between bulls and bears, fluctuating within the 4700-4780 range, creating a long upper shadow, and is currently consolidating around 4745. In the early morning and during the day, Yunlu's bullish strategy captured over 2200 points for Bitcoin, and over 1300 points for Ethereum, with Ethereum gaining nearly 100 points in the early hours, and the early morning Ethereum long positions are currently being held, with a target of 4800.
From a technical perspective, the 4-hour moving average system maintains a bullish arrangement, and the MACD golden cross continues but with slightly weakened momentum. Key support levels to watch are the early morning low of 123200 and the starting point of 122300, while resistance above is at the intraday high of 124500 and the Fibonacci extension level of 125800. Ethereum has tested the upper range multiple times, forming a long upper shadow, with 4730 being the dividing line for bulls and bears within the day. It is essential to focus on BTC's support at the 123000 platform and ETH's breakout direction, and it is advised to control positions within 5% and strictly implement stop losses. Market volatility is increasing, so be cautious of profit-taking risks and maintain a flexible response.
Bitcoin suggestion: Light long positions at 123600 or stabilize layouts at 122800-123000, targeting above 124500.
Ethereum suggestion: Long positions can be taken near the current price of 4750, with a breakout above 4780 allowing for more long positions targeting 4850-4900. A drop below 4700 would indicate a short position targeting 4630.
