Saturday, the bears are strong, Bitcoin and Ethereum have collapsed comprehensively, sharing strategies for the future market.
The next day, the bears exerted force again, with Bitcoin dropping to a low of 102,300 before stabilizing, while Ethereum followed closely, reaching a low of 2,365. In the afternoon, a short position was set at 106,300, and by the evening, a profit of 2,300 points was realized, while Ethereum also captured a gain of 70 points. If you are feeling confused and are unable to make good decisions, perhaps it’s time to stop and learn in order to better grasp every moment of the market.
Speaking from a technical perspective, the current price action on the 4-hour chart is slightly retracing and adjusting near the MA60 and the upper band, with BOLL in a contracted state. Therefore, whether the short-term bullish trend can continue depends on whether the price can stay above the MA60 and whether BOLL can transition from a contraction to an expansion state.
Regarding operational advice, for those trading short-term, pay attention to the performance of the important support level at 102,000. If the support level breaks, you might consider following the trend and entering short positions; if the price holds above the support and rebounds with volume, you might cautiously try to position long at lower levels.
Saturday's recommendation.
Bitcoin at 102,500-103, target 104,500.
To be honest, the recent market has been quite volatile. If you feel lost and are not able to capitalize, perhaps take a moment to learn and come closer to me for warmth.
