Market Review
In last night's analysis, we mentioned that the market is unlikely to continue falling and will likely experience an upward movement before starting to decline again. Based on our judgment, we chose to enter long positions above 4300, but unfortunately, our long positions were stopped out when the market dipped again. Although we chose to re-enter long positions later, the loss from the first trade is just that—a loss, and there's no shame in admitting it. After the market dipped at night, both Bitcoin and Ethereum began to show a range-bound consolidation during the day, and around 8 PM tonight, an upward trend started to emerge. As of the writing of this article, Bitcoin is at 121500, and Ethereum is at 4355. Currently, we are holding long positions.
Market Analysis:
From the chart, there isn't much change today compared to yesterday. Although there was a dip in the market last night, it quickly recovered. The entire day was basically a consolidation phase, and after this consolidation, an upward trend began to form, indicating that the market is showing signs of sideways movement instead of a decline.
Looking at Bitcoin, the previously key support levels EMA7 and EMA30 have returned below the market and are starting to form support again. Therefore, the operation is quite simple: rely on the support of these two moving averages to go long. As for the upper resistance, we predict it to be around 125000. If you're unsure about when to exit long positions and go short, feel free to contact me: I am Zhang Xiaoming (public account);
Regarding Ethereum, we continue to maintain yesterday's strategy, waiting for an upward movement before going short. Personally, I believe the market will rise to 4650 before starting another round of decline. Whether the market will move as we expect or if there are any new changes in the chart can be discussed by contacting me: I am Zhang Xiaoming (public account). Currently, I am holding long positions with an average price of 4364.
Latest Trading Suggestions:
Bitcoin: Focus on long positions, target around 125000
Ethereum: Focus on long positions, target around 4550--4650
Author's Note:
As always, trading has no absolute right or wrong; analysis is merely a prediction made in advance. The key is to find real-time opportunities based on market changes. Everyone's viewpoint cannot be the same. If you have your own judgment, please trust it. If you choose to follow someone, then follow them to the end. This is personal advice and for reference only.
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