Change is never too late. No matter when or where you are, and regardless of how bad your current situation may be, as long as you set a goal and take one step at a time, there is always a possibility for a turnaround in life. Looking back at the morning market, Bitcoin experienced a sharp rise in the early session, climbing strongly from around 84,600 to a peak near 87,418, where it has now paused. Ethereum's movement is similar, starting its ascent from around 1,573 in the morning and currently stopping at a high point of 1,641.
The 4-hour level has broken through the middle track, entering a bullish trend within a small cycle. Currently, the coin price is running above the middle track. In terms of the current market trend, consistently strong markets fear a high pullback, while weak markets fear a bottom rebound. The sharp rise in the early session indicates that it is not advisable to excessively chase the rise during the day. The coin price has rebounded twice after testing a bottom, showing that the decline could not sustain and repeatedly bounced back. The 4-hour chart shows continuous dips and rebounds, again building momentum for an upward move. After consecutive bearish candles on the hourly chart, it managed to recover with bullish candles, and the decline lacks sustainability, with an overall bullish trend temporarily leaning strong. For the day, we will first look for a pullback, and after that, we will look to buy, which in my view is a more ideal rhythm and direction.
On Monday, Bitcoin can be shorted at 88,000-87,500, targeting 86,000.
Ethereum can be shorted around 1,650, targeting 1,550.
Look to buy after a pullback.
