June 29 Afternoon Bitcoin/Ethereum Market Analysis and Trading Ideas
On Sunday, the market continued the oscillation range from Saturday, with the sideways pattern unbroken. Although there have been price fluctuations, it is overall operating within the established range, currently gradually retreating to the mid-range, with limited remaining space below. Based on rhythmic judgment, the demand for bullish correction is evident, and it is advisable to adopt a long strategy on dips.
From the 4-hour candlestick cycle, Bitcoin's price has recently maintained a pattern of oscillation and accumulation. The 5-day, 10-day, and 20-day moving average systems are showing a converging pattern, reflecting a temporary equilibrium between the bulls and bears. The MACD indicator continues to operate above the zero line, with the fast line about to cross above the slow line, forming a golden cross structure. At the same time, the red momentum bars show a trend of gradual expansion, indicating that bullish momentum is steadily accumulating. The Bollinger Bands indicator shows that the middle band maintains an upward sloping bullish arrangement, with prices consistently operating above the middle band, and the Bollinger Bands opening is showing signs of expansion, suggesting that the market's potential upward momentum is strengthening, and there are technical conditions for breaking through previous highs in the short term.
Bitcoin: 107000-106500 long, target near 108000
Ethereum: 2410-2380 long, target near 2480
