Wednesday Morning Thoughts: Latest Market Analysis for Bitcoin and Ethereum
Looking back at yesterday's midnight strategy, the long position idea was perfectly realized. Although the actual market did not give us the expected pullback, this morning saw a significant surge that touched the current high near the 96300 line. Friends who followed the strategy have gained nearly two thousand points. At present, the bullish momentum remains relatively strong, but the more it is at this time, the less we can blindly chase long positions. We will first attempt to short at high levels to catch the pullback, maintaining a strategy of low long and high short. After a big rise, a technical correction is likely to occur.
Currently, on the daily chart, the candlestick has been continuously closing with small bullish candles, supported by the middle track without forming a continuation of bearish movements. The support below is still quite evident. Meanwhile, on the 4-hour level, the BOLL has begun to flatten, with the upper and lower track range in the 96500-93000 area. If a breakout cannot be formed in the short term, it is highly likely to oscillate and consolidate within this range, forming a new oscillation area. Given that the current price is at the upper edge of the range, it is advised to attempt short positions first, unless a new breakout is formed and stabilized. Otherwise, to avoid missing out, it is best not to chase high positions. In the short term, consider short positions to catch the pullback for layout!
Morning Operation Suggestions:
For aggressive traders, lightly short near 96300, with a stop loss above 96800, and continue to pay attention to 93000 below, waiting for a pullback before laying out long positions.
For Ethereum, lightly short near 1810, looking towards 1770.
