$BTC In the turbulent waves of the Bitcoin market, every sharp fluctuation in price is a profound revelation bestowed by fate. It is like a microcosm of life, filled with uncertainty. Yet, at this moment seemingly brimming with opportunities, learning to firmly hold onto the preset boundaries in the face of the temptation of 'a little more rise' is the most precious protection of oneself and also a crucial step towards becoming a mature investor.
This week, Bitcoin has shown a pattern of fluctuating upward. After slightly climbing to a high of 115677 at the beginning of the week, it encountered resistance, then declined to a low of 112625 before rebounding. By the weekend, it reached a peak of 118707. Ethereum performed even stronger this week, initially rising to a high of 3733 before slightly adjusting to a low of 3544, then launching a strong upward movement, with prices continuously rising, finally reaching a peak of 4331 before pausing during the weekend.
From the daily chart, the current price shows a bullish engulfing rebound pattern, recovering some of the territory lost during the previous rapid decline. The current price is slowly approaching the upper band, and the overall daily level is still in the process of a bottom rebound. Looking at the four-hour chart, the price has quickly risen thanks to a large bullish candlestick, currently operating above the upper band, with the Bollinger Bands opening further, and the upward channel expanding. The MACD energy bars continue to strengthen, indicating that there is still some upward momentum in the price, and the upward trend remains unchanged. Therefore, in terms of operation, Wen Yao suggests focusing on short-term strategies, adopting a short-long strategy.
Bitcoin strategy: Buy above 119000, target 120000
Ethereum strategy: Buy above 4240, target 4300
