The midnight market remained relatively quiet, with Bitcoin continuing to fluctuate at high levels, with a range of only three to four hundred points. Ethereum fluctuated within a range of just over 30 points. The positions in Bitcoin and Ethereum entered by the midnight trader are still being held. Please be patient and wait for the market to develop. The downside space is continuously shrinking, and the retracement lows are getting higher, indicating a strong and steady upward trend. There are no issues with the positions, so hold them with confidence and wait for the high to be reached after the consolidation is completed. Yesterday, the combined positions in Bitcoin and Ethereum yielded a total of 3020 points, with a single trade in Bitcoin yielding 570 points and a single trade in Ethereum yielding 49 points.
From the current market situation, there is a short-term risk of a push higher, but the sustainability is still not strong, resulting in insufficient momentum for one-sided movement in the short term. However, the trading range has shifted upwards, and the daily chart has stabilized around the middle track, which is the lifeline for the bulls. The position above it is still strong. On the 4-hour chart, it has been continuously moving upwards from below the middle track, launching an attack towards the upper track. After the push higher, there was a slight pullback and stabilization. Currently, the short-term trend is still in a tug-of-war, with a slight bias towards upward oscillation in the short term. In the morning, further continuation of the bullish trend is expected.
In the early morning of Friday, it is advisable to consider going long around 70500 for Bitcoin, with a target range of 71500-72500. For Ethereum, consider going long around 3550, with a target range of 3650-3700.
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