Coin Wave Riding: 1.6 Cryptocurrency Market Bitcoin (BTC), Ethereum (ETH) Latest Market Analysis and News Interpretation

Coin Wave Riding: 1.6 Bitcoin (BTC) Market Analysis Reference:

Bitcoin has recently shown a significant upward trend, with prices continuing to rise, briefly breaking through the 945,000 mark in the early morning. From a daily perspective, the overall structure of Bitcoin's daily trend remains strong, achieving five consecutive daily gains. The BTC price has risen above the EMA short-term moving average and has broken through the upper Bollinger Band. The MACD histogram continues to expand, with the fast line breaking above the zero axis, indicating a clear bullish trend; however, both KDJ and RSI have entered the overbought zone, with a J value of 109.88 and RSI1 at 86.64, indicating short-term pullback pressure. If the price stabilizes above the EMA7 moving average during a pullback, it will likely continue to rise. On the 4-hour chart, after a price surge, there has been a slight pullback, but it remains above the EMA short-term moving average, with the upper Bollinger Band forming resistance; KDJ and RSI are also in the overbought area. Although the MACD bullish momentum has not diminished, it has slowed down, indicating a high probability of a technical pullback in the short term. If the EMA20 moving average holds, there is still a possibility of testing previous highs.

The 1-hour chart shows a fluctuating downward trend, with KDJ turning downwards and the MACD histogram decreasing in volume, indicating signs of a death cross forming above the zero axis, further diminishing bullish momentum. The middle Bollinger Band serves as a key short-term support; if it breaks down, the focus will shift to the lower Bollinger Band. However, this level of pullback is merely a short-term fluctuation and is unlikely to change the mid-term upward trend. Overall, the mid-term bullish trend for BTC remains unchanged, but short-term technical pullbacks are expected due to overbought indicators. It is advisable to wait for stabilization after a pullback before entering long positions, paying attention to the effectiveness of support levels across various moving averages.

Coin Wave Riding: 1.6 Bitcoin Short-term Reference:

Long Position: Buy in the 91,500-92,500 range, stop loss at 91,000, target at 93,000-94,000.

Short Position: Sell in the 94,500-95,500 range, stop loss at 96,000, target at 93,500-92,500.

Coin Wave Riding: 1.6 Ethereum Short-term Reference:

Long Position: Buy in the 3,145-3,185 range, defend at 3,100, target at 3,200-3,265.

Short Position: Sell in the 3,265-3,305 range, defend at 3,400, target at 3,240-3,160.

【The above analysis and strategies are for reference only. Please bear the risks yourself. The article may have delays in review and publication, and strategies may not be timely. Do not operate blindly!】

This content is originally shared by Coin Wave Riding and represents personal opinions only. The article may have delays in sending and is for reference only; do not operate blindly! If you want to receive more real-time trades daily, follow my public account! Here, you can engage in online technical learning and understand knowledge related to exiting positions. I have years of research experience in the market, focusing on the major trends in the cryptocurrency space. I mainly analyze and guide investment operations for BTC, ETH, DOT, LTC, FIL, EOS, BCH, ETC, and other cryptocurrencies. Welcome to study and research together.

I hope everyone on their investment journey, regardless of how the market changes, can adhere to their principles, maintain rationality and calmness. Deeply understand the characteristics, risks, and return mechanisms of investment products, and do not let short-term market fluctuations sway your emotions. Be patient, avoid excessive greed and fear, and understand that wealth accumulation is a gradual process. Finally, I wish all my followers the ability to see opportunities in their investment journey, making every decision just right, riding the waves in the ocean of investment, and reaping wealth and growth!!!

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