Monday Midnight Bitcoin Ethereum Latest Market Analysis and Summary
Looking back, the bullish strategy from the evening successfully met expectations, but unfortunately, a significant pullback hit us hard. Fortunately, we repeatedly emphasized that the actual trading was at a certain high level, so we lightly shorted to catch the pullback while waiting for a correction on long positions. Our intraday long strategy won multiple times; during the afternoon, Bitcoin pulled back to around 92700, and we decisively laid out long positions, capturing 1200 points before exiting. Subsequently, Ethereum also reached the same position where we laid out long positions and captured 47 points. In the afternoon, after another pullback, there was a significant stretch, and those who followed the strategy should have gained quite a bit. Currently, the actual trading is oscillating around 93700, and we will continue to maintain the pullback strategy at midnight. Aggressive traders can try light long positions on short-term.
From the overall trend perspective, a pullback is not enough to change the overall bullish trend and form a true reversal; however, it will present some enticing short opportunities. Although the short-term structure still leans towards a weak continuation trend, the current weak trend can be understood as a trap for shorts. Overall, the main outlook remains bullish. In the short term, the price has confirmed support near 92000, so since support has been confirmed, the next step is a rebound. The overall market is indeed rebounding and has stabilized above 93500, so after a pullback, it will be the time to enter long positions; just go long after the pullback!
Midnight Trading Advice:
For Bitcoin, it is recommended to go long in the 92800-93300 range, targeting 95000.
For Ethereum, it is recommended to go long in the 1700-1740 range, targeting 1850.
