Wednesday Midnight Bitcoin and Ethereum Market Analysis and Daily Summary
As the day’s market comes to a close, the past two days have been characterized by a slow accumulation during the day and a rapid rise in the evening. Throughout the day, I have emphasized the strategy of buying on dips. The market has shown a slow oscillation and correction, touching our expected support level, and with the release of the evening CPI news, we saw a short-term boost, leading to a strong surge that peaked near the 110300 level. It then faced pressure and retreated below the 110000 mark. The late evening movements were also quite coordinated, with prices rising steadily, peaking near the 2880 level. In our live trading, we took a long position on Bitcoin, capturing a space of 1087 points before exiting, while for Ethereum, we focused on short-term trading, making quick entries and exits, which also yielded over a hundred points of profit.
On the daily chart, the bullish force holds an absolute advantage, having achieved a strong six consecutive bullish candles. The bodies of these candles are generally full, showcasing strong upward momentum. Although there was a bearish candle with a long lower shadow previously, it was quickly recovered by subsequent bullish candles, indicating solid support below. The current trend of consecutive bullish candles continues, with the bullish dominance firmly established. On the 4-hour chart, the upward trend is clear. The candlestick structure is primarily bullish, with prices climbing steadily, and the retracements during this period have been minimal, hardly disrupting the upward trend. Given the current strong bullish pattern, it is recommended to maintain a strategy of buying on dips in operations. When prices retrace to support, one can actively position for long trades.
Midnight Suggestions:
Buy Bitcoin in the 109000-109300 range, targeting 110300.
Buy Ethereum in the 2820-2840 range, targeting 2900.
