Friday Evening Bitcoin and Ethereum Market Analysis and Trading Suggestions
Currently, Bitcoin is hovering around the 108500 level. We should maintain a strategy of trading within the range rather than getting caught up in one-sided fluctuations. From the weekly structure, this week Bitcoin's price tested the upper resistance, reaching a peak of 111959 under pressure. Although the price has increased by nearly 10,000 points this week, the likelihood of a reversal to the downside is low under the strong trend of seven consecutive gains. However, to further break new highs, it still needs to build momentum, so this week's short-term rebound peak may consider short positions without expecting another breakout to new highs. Although it has turned into a small bearish candlestick, this is a normal correction after the rise and will not affect the overall trend change. In future operations, we should continue to maintain a low bullish mindset; as long as the market does not break below 105000 during pullbacks, a deep correction will not occur.
For Bitcoin, consider going long in the 108000 range; aggressive traders can look near 108300, targeting 110000.
For Ethereum, consider going long near 2510, targeting 2650.
