Looking back at today's market for Bitcoin, it has been a standoff between bulls and bears, with a rebound after a pullback, forming a cyclical pattern. In the afternoon, the long positions were successfully harvested in the evening. Ethereum today saw bears dominating, with a certain amount of rebound but all were recaptured by the bears.
Bitcoin is overall distributed on the lower band of the Bollinger Bands at the four-hour level, but the rebound trend is still very clear, and a significant rebound in the evening verified our strategy. The Bollinger Bands are gradually opening up, indicating that a real big market is about to come. From the hourly level, the overall market is hovering around the middle track of the Bollinger Bands, with the three tracks forming a parallel trend. Given today's market, we can adopt a high sell low buy strategy for the early morning layout, engaging in short-term trading, and remember to set take profit and stop loss points to avoid pin-like market movements. (Short-term trading)
Bitcoin around 104500 (stop loss point 103900) target 106000
Ethereum around 2610 short target 2550
