$BTC $ETH After a short-term consolidation at a low position in the early morning, the market was able to recover to the 95000 mark again, reaching a high of about 95400 where it faced resistance. This kind of movement indirectly tells us about the strength of the bulls, but at the same time, it leaves us puzzled since the resistance above has still not been refreshed. In comparison to Bitcoin, Ethereum is slightly weaker, as last week it surged nearly 10,000 points, while Ethereum only has a space of two to three hundred points, and there's no hope for a catch-up. The inflow of funds isn’t bad, but it lacks a few more pushes to drive the price up. Therefore, the view this year still believes that only Bitcoin is strong, while other altcoins just follow along for a bit of soup. Speaking of our actual trading positions, last night Bitcoin positioned long around 93700, and in the morning around 95000, it exited the market, gaining 1300 points. Ethereum synchronized with Bitcoin, positioned long at the 1757 level, and exited the market gaining nearly 40 points in the morning. The trend is simple and clear, the strategy is accurate, so what reason is there not to take profits?
From the current trading perspective, the daily line shows a small bullish candlestick that pushes the opening price of today higher. Currently, it is still in a sideways adjustment structure, but with the gradual upward movement of the lower shadow, it can be seen that the overall trend is in a strong structure. The current consolidation is still for better upward exploration in the future. Today will see a certain pullback as a correction of the market, but it should be noted that the bulls are still in a strong structure, and the short-term resistance can be broken with just a little more effort. In such a market, the cost-effectiveness of chasing long positions will definitely be higher than that of chasing shorts. Of course, there are certain opportunities for both long and short positions in the short term, which is inevitable, but when the adjustment ends remains to be seen while walking. Looking at the hourly chart, if the high point does not break, a short-term double top structure will form, and the KDJ indicator shows signs of a dead cross as the three lines converge, indicating a certain pullback in the short term is likely. However, the strong trend in the larger cycle is evident. It is prudent to wait for a pullback below 94000 before entering the market, while aggressive traders can directly enter lightly between 94000-94500.
You can long Bitcoin in the range of 94000-94500, looking towards 96500. Ethereum can be longed in the range of 1750-1770, looking towards 1850.
Remember: In the cryptocurrency circle, there are only wolves that eat meat and sheep waiting to be slaughtered.
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