Thursday Early Morning Bitcoin and Ethereum Market Analysis and Daily Summary
Looking back at the overall market trend during the day, it remains primarily characterized by fluctuations, with a typical pattern of rising followed by a pullback, and a dip finding support for a rebound. After Bitcoin tested the low point of around 108500 in the morning, the overall trend for the day showed a slow upward recovery. Although there were occasional pullbacks, it did not break below the previous low. Therefore, our strategy for the day continued to focus on a predominantly long position with some short positions. Although the volatility range has narrowed compared to previous days, the overall winning momentum has continued. For the day, Bitcoin's layout included two long and two short positions, totaling over 3000 points gained; Ethereum's layout included three long and one short position, accumulating over 200 points. The details of short-term operations will not be elaborated on.
The current market has gradually formed a low-level fluctuation pattern. Bitcoin's daily chart has closed with a bearish candle again, and the price is still hovering near the lower Bollinger Band. The short-term upward momentum has not been effectively sustained, but the pullback momentum has significantly weakened, and resistance levels are gradually rising, showing a slow strengthening trend overall. From a technical perspective, it is still in a fluctuation range in the short term, with low-level support slightly moving down. This current fluctuation can be viewed as a wave adjustment in an upward trend. Therefore, we recommend continuing to follow long positions and look for rebound opportunities in the short term. As long as the key support holds, the bulls still have some space in the future market. The market will not continue to fluctuate; after the pullback ends, there is hope for another upward attack.
Overall, the big trend structure still leans towards strength, and the current phase is merely a consolidation after a rise. The pullback has not formed a persistent downward trend, indicating that the market still has resilience. Relying on the structure of the longer-term trend, we will continue to adopt a bullish outlook. After stabilizing at the key position during the day, we can still look for bullish opportunities.
Operational Suggestions:
Bitcoin around: 109000-109500 long, target attention on 112000
Ethereum around: 4480-4500 long, target attention on 4600
Bitcoin support below 109000, Ethereum support below 4470
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