Thursday Night Bitcoin and Ethereum Market Analysis and Trading Suggestions
During the day, Bitcoin showed a downward trend, although there was a brief surge after the CPI data was released, it fell back again due to the impact of the U.S. stock market opening, ultimately returning to a downward fluctuation channel. This reflects that current market sentiment remains cautious, and upward movement requires more momentum support, and is sensitive to news events.
From a technical perspective, the four-hour Bollinger Bands continue to narrow, indicating that market volatility is decreasing; combined with the effectiveness of the key support range of 106500-105600 below, the short-term market is likely to enter a consolidation pattern, building momentum to seek direction. Although the continuation of the market in a volatile state is limited, and the risk of blindly chasing highs and cutting losses is high, the existence of solid support areas below provides a foundation for buying on dips. Therefore, the suggestion is to patiently wait for signals of stabilization after a pullback to seize low-entry opportunities.
Evening trading suggestions:
Buy Bitcoin around 107000, with a stop-loss at 106500, target 109000
Buy Ethereum around 2740, with a stop-loss at 2700, target 2800
