Trading philosophy: Look at the trend in the long term, find the position in the short term.
Market review: The market has tested the Bitcoin 60000 and Ethereum 2900 levels three times on the daily chart, and then started to rebound. The first wave reached Bitcoin 65500 and Ethereum 3120, and then retraced to support at 63000 and 3000. We used the strategy of observing the bearish trend without shorting in the past two days, and successfully entered long positions at the support levels of 63000 and 3000, and exited with the expected profit, gaining nearly 3000 points for Bitcoin and nearly 200 points for Ethereum.
Technical analysis: For Bitcoin, the daily chart has closed above 63500, and the Bollinger Bands are starting to converge. The MACD moving averages are running parallel, and the selling volume continues to decrease. The KDJ line is moving upward. On the 4-hour chart, the Bollinger Bands are starting to move upward, and the market continues to rise after running to the middle track. The MACD moving averages are moving upward, the buying volume is gradually decreasing, and the KDJ line is moving downward. As for Ethereum, various technical indicators are basically synchronized with Bitcoin.
In summary, as mentioned earlier, once Bitcoin stabilizes above 63500 and Ethereum above 3150 on the daily chart, the bullish market is expected to open again. The current market has initially emerged, and the next key resistance levels are Bitcoin 65500-66000 and Ethereum 3250-3350. The subsequent operation suggests continuing to go long after the retracement.
Operation suggestions:
Go long in the Bitcoin 64000-64500 area, with a target of 65500-66500, and defend at 63300.
Go long in the Ethereum 3100-3130 area, with a target of 3200-3250, and defend at 3070.
The strategy is time-sensitive, and specific guidance in real time should prevail.
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