Yesterday evening's forecast suggested a bullish target near 93,000 with a view to reach 95,000, which has now been successfully achieved. As always, every time is a verification of the idea ahead of the market.
Without further ado, let's look at today's content.
Yesterday, the price of Bitcoin rebounded again to above 94,000, reaching near the previous starting point, with the market showing a pattern of narrow adjustments at high levels. Combining technical analysis with recent trends, the current market primarily continues in a range of fluctuations.
Technical Analysis:
Daily Level: Range not broken, rebound under pressure.
After several days of pulling, Bitcoin's daily chart has once again touched the critical resistance level of 96,000, but has not formed an effective breakthrough. Recently, the price has been oscillating around the 90,000-95,500 range, indicating that the market's long and short battles are still ongoing. The daily MACD indicator has contracted and is consolidating, while the KDJ three lines have turned down from a high position, suggesting insufficient upward momentum in the short term, with a need for a pullback.
Ethereum (ETH) is under similar pressure.
The price movement of Ethereum is correlated with Bitcoin, currently hovering in the range of 1,815-1,830. The four-hour chart shows that after breaking below the middle Bollinger band, the rebound was hindered, with MACD forming a death cross and green bars expanding, indicating short-term bearish dominance. Support below is focused on the 1,750 level; if it breaks, it could exacerbate the downside.
Operational Suggestions:
For Bitcoin: High short entry points are in the range of 95,200-95,500 for light short positions.
Target: Around 93,500 (if it breaks, can look down to 92,000). Stop loss: Above 96,000 (to prevent sudden breakthroughs).
For Ethereum: Simultaneous high short entry points are in the range of 1,815-1,830 for short positions.
Target: Around 1,750 (if it breaks, can look down to 1,720).
Stop loss: Above 1,840.
