9.7 Bitcoin and Ethereum Morning Market Analysis and Trading Suggestions

CN
5 hours ago

Morning Analysis: From the 4-hour chart, the Bitcoin price has experienced a significant pullback, precisely returning to the mid-band area without forming an effective breakdown. Instead, it triggered strong support here and entered a consolidation phase. Considering the previous trend, the upward channel structure remains intact, and each pullback has gradually pushed the lows higher, significantly increasing the probability of continuing the upward trend. Key support levels to watch today are in the 109300-109700 range.

Ethereum has been in a consolidation adjustment since yesterday, with the current price consolidating below the resistance level of 4300-4330. From the 4-hour chart, the price shows characteristics of a "bottom rebound adjustment," forming a two consecutive bullish candle pattern. More importantly, the Bollinger Bands and MACD + KDJ are synchronously showing an upward turning trend. Additionally, from the weekly trend perspective, the short-term upward direction has not changed unless it breaks below the key support area of 4240-4110.

Trading Suggestions: For Bitcoin, consider buying near the current price of 110400-110000, with a stop loss at 109500 and a target of around 111600-112000. If it breaks, look for a target around 112500-113000; if it doesn't break, consider shorting.

For Ethereum, consider buying near the current price of 4290-4270, with a stop loss at 4240 and a target of around 4330-4360. If it breaks, look for a target around 4390-4410; if it doesn't break, consider shorting.

This strategy is for reference only; please invest cautiously and secure profits. (Follow Dan on WeChat: Ethereum Kai)

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