In the early hours today, the market staged a repeat of the 'door' pattern, with back-and-forth washing out positions (a common tactic of manipulators). Our updated strategy of buying on dips in the early morning saw Bitcoin reach the target of 107000, but unfortunately, it was caught in a spike and swept out, which is very regrettable.
After the current weekly K update, due to the 6 consecutive bullish candles, the indicators are severely overbought. Additionally, there is a gap of several thousand points between the price and the MA5 daily moving average. Therefore, this week, we first look for a pullback to solidify the support base at 100000-98000. As long as the weekly K-level Bitcoin fails to effectively break below the key support level of 100000-98000, there will still be another retracement in the latter half of this week.
On the daily chart, the K-line alternates between bullish and bearish. The MA5 and 10-day moving averages have flattened again. Due to the daily high opening and low closing, the MACD indicator has turned from red to green again, and the KDJ three lines are crossing downwards, which has also led to a certain lag in the indicators. Combining with the 12-hour chart, the current price has quickly risen after touching the lower track, and the MA30-day moving average continues to rise, providing certain support strength at the short-term level of 102000. As long as Bitcoin does not break below the short-term support of 102000 with significant volume, it will continue to oscillate and adjust. However, if it breaks below 102000 with significant volume, it can be confirmed that the daily chart is heading for a unilateral pullback, and reaching the weekly support at 100000-98000 is just a matter of time.
The 4-hour chart shows a large bearish candle retreating downwards in the morning. Currently, the indicators are severely oversold, with MACD and KDJ indicators leaning towards bearish resonance downwards. Combining with the hourly chart, it can be judged that the current short-term bearish sentiment of the currency is showing signs of contraction. After Bitcoin touched the short-term support at 102000, there are signs of a rebound for short-term bulls, with resistance levels around 104000-105800. Therefore, from noon to evening, we can first look for low buys and then high sell ideas.
Trading strategy: Buy at 102300-101800, target: 103500-104000, stop-loss: 101400.
The short-selling strategy will be updated later in the evening as it retraces upwards.
Ethereum's recent performance has again become lackluster. The daily candlestick chart has formed a downward 3-wave pattern. However, the short-term trend is basically in sync with Bitcoin, with resistance levels around 2480-2550. Therefore, from noon to evening, we can first look for low buys and then high sell ideas.
Trading strategy: Buy at 2350-2320, target: 2420-2480, stop-loss: 2300.
For the short-term trend, it is expected to be sufficient. Further follow-up will continue later.