#btc #eth In the fierce competition of the cryptocurrency market, this week's Bitcoin (BTC) and Ethereum (ETH) trends have shown unique wave opportunities. After continuous tracking analysis and strategy execution, the previously established long positions have successfully been locked in profits, while new short strategies have also been implemented. A deep interpretation and strategy planning for the midnight market trends will now be presented.
Bitcoin (BTC) Market Analysis and Trading Suggestions
Looking back at this week's trading, a decisive long position was established at 102000 on Thursday, and patiently held until today. When the price reached 104500, the timing was perfectly grasped to take all profits and exit, successfully earning a profit margin of 2500 points. Subsequently, leveraging keen insights into market trends, a short position was taken at 104500, and this short position is currently held.
From a technical perspective and market trends, there is a significant demand for a pullback in Bitcoin during the midnight period, with a high possibility of forming an M-top pattern. In the analysis points published earlier in the day, it was clearly indicated that there is strong resistance around 104500, and it is advised to set up short positions at this level. The market trend has unfolded as expected, rebounding to a peak of 104524, providing an excellent entry opportunity for strategists.
For investors who already hold short positions, they can continue to hold their positions and firmly look towards the lower target. For investors who have not entered the market, if the price rebounds again to 104500 or further rises to the key resistance level of 105800, they can decisively follow up with short positions. The target price levels are sequentially set at 103500, 102500, and 101500, each of which may become phase support levels. Investors can flexibly grasp profit-taking opportunities based on their own risk preferences.
Ethereum (ETH) Market Analysis and Trading Suggestions
Regarding Ethereum, a long position was also established at 2530 on Thursday, and today, it successfully exited at 2620, earning a considerable profit of 90 points. Subsequently, the trading strategy was promptly adjusted near 2620 to enter short positions.
In the intraday market analysis, emphasis was placed on the two key resistance levels of 2600 and 2650, suggesting to short at highs within this range. The actual market trend completely aligned with expectations, rebounding to a peak of 2648, providing ample entry opportunities for strategic investors. For investors who already hold short positions in Ethereum, it is advised to continue holding and wait for further price declines.
For investors who have not entered the market, if the price rebounds to around 2600 or 2650, it still presents a good short opportunity. The target price levels are sequentially set at 2570, 2540, and 2500. As the price gradually declines, investors can reasonably set stop-loss and take-profit levels according to market changes to ensure profits and control risks.
The cryptocurrency market is highly volatile, and the above strategies are for reference only. Investors should closely monitor market dynamics in actual operations, consider their own risk tolerance, and make cautious trading decisions, avoiding blind following of trends.