In the world of cryptocurrency, information is complex, and various voices fill the air. Do not blindly follow the trend, and do not be led by the so-called 'experts'. Enhance your understanding and establish the ability to think independently; this is the foundation for your presence in the cryptocurrency space. Each in-depth study of the market and each reflection and optimization of investment strategies adds bricks to your wealth building. The long positions laid out in the morning are now also realizing a profit of 1100 points upon exit. The choice of entry point determines your profit. Currently, the price is above the moving average, and in the short term, the bullish advantage is predominant, but the trend has not yet reversed. This may likely be a test of the upper pressure level; after 119200 has turned from support to pressure, both sides are paying close attention to this position.
On the technical side, the hourly MACD fast and slow lines are still below the zero axis, and the overall trend remains in a downward zone. The MACD histogram is gradually shortening from deep red to near zero, indicating that the bearish momentum is weakening, and it is currently in a transitional phase from bearish to neutral. The trading volume during the rebound phase is low, indicating that capital participation is not high; the current rise is a weak rebound. In the short term, the price of Bitcoin may continue to attempt to approach the resistance level, but the overall trend has not yet reversed.
Operational Suggestions:
Bitcoin: Buy near 118500, target 119500
Ethereum: Buy near 4580, target 4720
