Saturday Afternoon Bitcoin and Ethereum Market Analysis and Trading Suggestions
Looking back at yesterday's evening, we provided a strategy for buying on pullbacks. Lao Tian also mentioned that we should first look for pullbacks to enter low. Last night, as expected, there was a pullback that touched the 104000 level before stabilizing. After entering a long position in the actual market, a rebound followed, gradually recovering the decline. This morning, Bitcoin peaked at 106173 before facing resistance. Friends who followed the long and short strategies from last night should have profited, and currently, the price is consolidating around 105300. Ethereum synchronized its downward movement to around 2508, found support, and did not further decline. This morning, with bullish volume, it completely recovered the evening's losses. The current price has retreated along with Bitcoin, operating around 2550.
From the four-hour level, Bitcoin is in a low-level consolidation pattern. After stabilizing around 105000, it has constructed a staircase-like recovery structure, showing an overall healthy and slightly strong technical shape. The MACD indicator shows a slight bullish divergence, and the fast and slow lines are expected to turn upwards near the zero axis, indicating that short-term bullish momentum is building up. In the short cycle: although the price recorded four consecutive downward days, the support below is strong. A short-term pullback can be seen as a technical adjustment to gather strength for future upward movement. Approaching the weekend, market volatility is expected to narrow. Given that the technical aspects show positive repair signals and solid support, we continue to maintain a bullish outlook this afternoon, suggesting that the focus should be on buying during pullbacks and seizing opportunities in a fluctuating market.
Trading Suggestions:
Bitcoin in the 104500-105000 range, look for 106000.
Ethereum in the 2500-2530 range, look for 2600.
