Monday Evening Bitcoin and Ethereum Market Analysis and Trading Suggestions🌹🌹🚀
Reviewing the daytime market, both Bitcoin and Ethereum broke through 110,000 but did not show a significant continuation of the upward trend. Ethereum touched the 2598 line and then experienced a pullback, just one step away from the 2600 mark. In the evening, we will focus on the support situation at 109,000; if the bears show strong continuation, we need to be cautious of bottom-fishing risks. This evening, we continue to maintain a buy-on-dips strategy, and during the day, we guide live trading to capture both long and short positions for consecutive wins.
Overall, the market performance this morning was not particularly strong in terms of upward momentum due to fundamental influences, coupled with the stock market being closed, leading to a gradual weakening of news stimuli. The 4-hour chart for Bitcoin is currently still holding onto the middle track of the oscillating bullish channel; although the upward extension space is limited, the support strength of the middle track remains. Intraday, the short-term view is still based on the middle track as the critical point. Above the middle track, we look for bullish momentum; if it breaks below, we shift to bearish. Short-term bullish and bearish positions should be flexibly adjusted according to the change in patterns, and excessive chasing is not advisable.
Trading Suggestions:
Buy in the range of 109,000-109,500 for Bitcoin, targeting 111,000.
Buy in the range of 2,510-2,540 for Ethereum, targeting 2,600.