The opportunities in the cryptocurrency world are equal; it offers everyone the possibility to rewrite their destiny. Here, knowledge is the key to wealth. As long as you continue to learn, delve into market research, and enhance your understanding of digital currencies, you can seize those fleeting opportunities. Perhaps you are just a beginner in the cryptocurrency world, feeling confused by the complex candlestick charts and various concepts, but as long as you persevere in learning and continuously accumulate experience, one day you will find your own rhythm in this market. The market on Thursday is also about to end. Looking back at the overall market trend during the day, Bitcoin surged strongly to around 124,545 in the morning and refreshed its historical high. However, after reaching the high, it did not continue and instead operated around a downward trend in the afternoon. In the evening, it strongly broke downwards. The intraday increase was nearly 7,000 points. The lowest point in the evening touched around 117,410. Currently, Bitcoin's price is still hovering around the 118,000 mark. Ethereum's performance on Thursday was relatively slow during the day, operating mainly between bulls and bears. In the evening, as Bitcoin strongly tested the bottom, it touched a low of around 4,455 before rebounding. Currently, the price of Ethereum is around 4,600. Today, Chang Sheng's real trading layout for Bitcoin was two shorts and one long, yielding a profit of over 7,369 points! Ethereum's simultaneous layout garnered a profit of over 297 points!
From the current 4-hour chart analysis, the market shows a significant retracement trend influenced by news. This round of adjustment has not only caused the index to lose the mid-track position but also briefly approached the key lower track position. However, after falling above the lower track, the market began to demonstrate strong resilience and started to rebound. The retracement following the impact of the historical high is a normal phenomenon. On one hand, the substantial profits accumulated in the previous period need to be realized, which will cause a wave of retracement in the market. From a technical analysis perspective, any healthy upward trend needs to go through periodic adjustments to digest overbought pressure and repair technical indicators. As we have repeatedly emphasized before, a good bullish market must be accompanied by reasonable retracements, which are a necessary process for more stable upward movements. The current retracement is more likely to be a normal adjustment within the upward trend rather than a complete reversal of the trend.
Operational suggestions:
Bitcoin: Buy around 117,000, target 119,500
Ethereum: Buy around 4,500, target 4,700
