The overnight market movement perfectly validated our intraday bullish prediction. Although Bitcoin experienced a deep pullback during the US trading session, just as the strategy forecasted a bottom reversal logic, the price strongly reclaimed lost ground during the early hours and returned to the key area of 94800, allowing following investors to successfully capture a profit space of over a thousand points.
Currently, the price in the Asian trading session has risen above 95200, showing a momentum-building upward trend. Aggressive traders may consider lightly entering short-term long positions to capture the inertia of a bullish surge, while the main intraday strategy remains to buy on dips.
The daily chart presents a bullish engulfing pattern, successfully reclaiming the previous trading day's bearish candlestick body. Although it has yet to break through the recent consolidation range, the continuous expansion of the Bollinger Bands indicates that bulls still hold a dominant advantage.
It is worth noting the four-hour cycle trend, where the price precisely tested the lower Bollinger Band in the early hours, forming effective support. As the price strongly rebounds to operate in the upper band area, the Bollinger Bands are showing signs of secondary expansion after a contraction.
If it effectively breaks through the recent key resistance level of 95700, it may open up new upward space. It is recommended to continue monitoring the breakthrough situation at this resistance level to confirm trend continuation signals.
Operational Suggestions
Long positions around 945-950 for Bitcoin, target 96000.
Long positions around 1750-1780 for Ethereum, target 1850.
