Tuesday evening thoughts, latest market analysis for Bitcoin and Ethereum
Looking back at the long positions suggested in the evening, after fluctuating downward in the afternoon and reaching a low around the 93700 line, a rebound began and it entered a range of fluctuations. In the short term, the actual trading tested the lows without success, and during the evening, we decisively laid out short positions to capture the pullback, securing a profit of 547 points before exiting. Currently, the market is fluctuating around the 93800 line, and we still maintain the strategy of waiting for a pullback to go long.
In the 4-hour chart for Bitcoin, the Bollinger Bands are beginning to converge. Yesterday, it was pressed down at the upper band and fell into the middle-lower band range. Currently, the support at the lower band is coinciding with the neckline, which is also a key support level determining whether the market will rise or reverse. If it holds above the neckline and corrects, we continue to look bullish; otherwise, if it breaks down, it will turn into a small-level double top retracement. It is currently in a consolidation phase; in terms of trend, as long as the neckline holds, there is no loss of momentum. In the evening, short-term operations will continue to rely on the lower band for defensive pullbacks with a focus on low points.
Evening trading suggestions:
Long Bitcoin in the 93000-93500 range, targeting 95000.
Long Ethereum in the 1720-1750 range, targeting 1800.
