In the face of market fluctuations, maintaining a calm mind is crucial. Fear causes us to miss opportunities, while greed may lead us to irreparable situations. Only by adhering to our inner principles can we remain composed amidst the changing tides and make wise decisions. On Wednesday, the Bitcoin market showed a fluctuating upward trend from the morning, with prices continuously refreshing recent highs, until the evening when the market spiked to a high point of 94904 before starting to retreat. After a pullback to a low point of 91898, it rebounded again. Similarly, the Ethereum market rose from the morning to an evening high of 1834, then faced pressure and fell to a low of 1761 before gradually rebounding. Today, Brother Sheng's trading strategy involved two long positions and one short position in Bitcoin, as well as one long position in Ethereum, and the market delivered as expected. The long position in Bitcoin arranged early in the morning entered around 90795 and exited near 93760, capturing a space of 3000 points. The long position arranged at noon entered around 92709 and exited near 94356, capturing a space of 1650 points. In the evening, he seized the opportunity after the high and arranged a short position in Bitcoin, entering around 93923 and exiting around 92305, capturing a space of 1600 points. The long position in Ethereum arranged during the day entered around 1688 and exited around 1779, capturing a space of 91 points. The overall layout of two long and one short position in Bitcoin during the day captured a total of 6250 points.
Based on the current market situation, the four-hour level shows that after experiencing a spike, the market has retreated below the upper Bollinger Band, and is currently in a correction phase. Bearish momentum cannot lead to a sustained price drop, while bullish momentum is forming a recovery trend. From the one-hour level, the bottom is successfully forming, with clear support from the lower Bollinger Band. Bearish volume is hindered from expanding, the Bollinger Band is gradually narrowing, and the KDJ indicator's three lines are turning upwards. As bullish momentum begins to recover, it is gradually dispersing, so our approach for midnight operations will be to maintain the mindset of low buying after a pullback.
Bitcoin can be bought near 92500-93000, with a target of 94500.
Ethereum can be bought near 1770, with a target of 1850.
