Bitcoin Market Review and Outlook:
Bitcoin has experienced overnight consolidation, ultimately failing to break out of a significant volatility range. Yesterday, the price tested the 105500 level again; although it did not break through, the overall trend remains strong, currently operating within a narrow fluctuation range. Despite the price space not yet opening up, the high-level consolidation correction has limited the extent of the pullback. This consolidation pattern has replaced a deep retracement and essentially still belongs to a strong bullish adjustment phase. In the short term, it is in a state of accumulation and still has the potential to challenge previous highs. Last night, through multiple setups, we accumulated long positions, with Bitcoin yielding over 1000 points and Ethereum over 50 points. Recently, the operational difficulty in the market has been relatively low; if one cannot grasp such simpler market conditions, it is indeed worth reflecting deeply on their own strategy.
Current Technical Analysis:
Bitcoin continues to oscillate within a small range in the short term, with neither highs nor lows forming effective breakthroughs, presenting a tug-of-war situation. On the daily chart, the price is vying for key support/resistance levels of the ascending trend line. The four-hour chart shows that the upward momentum has slowed, and it is currently in a sideways consolidation state. The short-term direction needs further confirmation: is it a second attempt to reach previous highs, or a deeper adjustment? Recent signals of a unilateral trend are relatively vague, but it should be noted that the current overall slowdown in the trend is not a clear reversal signal. Capturing the swings of a unilateral trend is an important trading strategy. By accumulating small profits during market consolidation phases and seizing larger profit opportunities in unilateral trends, one can effectively enhance trading performance.
Friday Morning Trading Suggestions:
Bitcoin (BTC): Go long in the 103800 - 104300 range, targeting 106500.
Ethereum (ETH): Go long in the 2480 - 2500 range, targeting 2600.
