GM！
Bitcoin/Ethereum soared again overnight, reaching a high of around 106500 and 2650, with a noticeable increase. However, the Bitcoin daily MA indicator has not effectively broken through and has been suppressed near the 10-day moving average at 106600, starting to pull back. Ethereum has shown a significant increase overall, but after the market surged, the four-hour candle closed with a long upper shadow, indicating that bullish momentum has exhausted and there is a risk of a pullback.
Additionally, from a weekly level perspective, Bitcoin has not reversed the downtrend, and the market is still expected to rise and then pull back.
From a candlestick pattern perspective, the daily level shows a rise and pullback. After experiencing a significant decline, a rebound occurred, but there is obvious pressure above. In the four-hour cycle, the rise and pullback with a long upper shadow indicate heavy selling pressure above, and bullish strength is weakening in the short term.
In terms of technical indicators, the daily level DIF and DEA are still below the zero axis, and the bearish trend has not completely reversed. In the four-hour level, the DIF is gradually approaching the DEA, showing signs of a golden cross, but the momentum bars are decreasing in volume, and the possibility of a false breakout needs to be cautioned.
Trading suggestions BTC: around 105500 to 106000 🈳, target around 103500; ETH: around 2610 to 2620 🈳, target around 2540.
