The market on Thursday, $ETH is also about to end. Looking back at the overall market trend during the day, Bitcoin made a strong surge to around 124545 in the morning before once again hitting a historic high. However, after reaching the high, it did not continue and basically moved in a downward trend in the afternoon. In the evening, it broke down strongly. The intraday increase was nearly 7000 points. The lowest point in the evening touched the low line of 117410. Currently, the price of Bitcoin is still hovering around the 118000 mark. Ethereum's performance on Thursday during the day was relatively slow, basically operating in a back-and-forth tug of war between bulls and bears. In the evening, it synchronized with Bitcoin's strong bottoming, with the lowest point touching the line of 4455, stopping for a rebound. Currently, the price of Ethereum is around 4600.
From the current market perspective, Bitcoin's four-hour level line is continuously moving down, all giving certain rebound repairs, but the warming within the small cycle is not very obvious yet. However, the closing of the bottom shadow still indicates that the bulls have certain counterattack space. The strong increase in bears is currently being effectively slowed down. For the midnight market, Lao Chen suggests focusing on going long at low levels. However, Lao Chen believes that the midnight market is more inclined to make oscillation repairs. Maintain range operation.
Bitcoin: Long at 117500-117800 Target 119000
