Morning Thought Analysis
The trading journey of the new week grandly opens on the first day of Monday. Looking back at the market situation over the past weekend, it has shown an overall trend of fluctuating downward. Taking Bitcoin as an example, its price was pressured from the high of 97,000, and then it gradually declined until it rebounded near the 95,200 mark. In contrast, Ethereum's performance was completely different, starting its upward journey from around the 2,620 mark, reaching as high as the 2,850 area, although the short-term gains retreated after encountering resistance.
In the current market situation, it is not advisable to blindly chase after rising prices or sell during falls in a one-sided market. Short-term trading could consider going long first and then shorting at highs.
From a technical analysis perspective, the Bollinger Bands on the daily level are gradually narrowing, and bearish market sentiment is intensifying. Although there has been some degree of warming in the current market, Bitcoin's price is still operating below the middle line of the Bollinger Bands. If it cannot break through this key area of resistance during the day, the market is likely to continue its downward trend.
Therefore, today's operations do not recommend blindly chasing after rising prices or selling during falls; it is essential to closely monitor the breakout of key levels and flexibly adjust trading strategies.
Trading Suggestions
Bitcoin: Around 96,500-69,000, target near 94,500
Ethereum: Around 2,830-2,850, target near 2,700
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