Cryptocurrency Circle Liying: After BTC stabilizes at 70,000, where to look next? Can Ethereum break through its previous high? Latest market analysis and trading suggestions
BTC
The current price of Bitcoin is 70,400. The trend remains bullish, with the latest 2-hour K-line revealing a bullish candle closing near the entity high, accompanied by an increase in trading volume. This indicates a fierce contest between bulls and bears, but strong buying at lower levels is pushing prices higher. The daily chart has recorded consecutive bullish candles, and trading volume remains high, confirming the continuation of the daily-level upward trend. MACD: The 2-hour short-term price pullback is still above the main EMA averages, which may be just a short-term adjustment in the upward trend. The EMA 2-hour moving averages are confirming a bullish arrangement.
Short-term trading strategy (taught by Liying, precisely aligned with the market)
Bullish approach: Enter in batches when there is a pullback to the 69,000 to 70,000 range, set a stop loss at 69,000. If this key support is broken, exit decisively. The target is initially at 71,500 to 72,000, and if broken, look to continue towards 74,050's previous high.
Bearish approach: Only attempt small positions when there is a clear increase in volume and price stagnation in the 71,500 to 72,000 range, set a stop loss at 72,500, and target for 69,500 to 69,000.
ETH
The current price of Ethereum is 2,074. Liying assesses that the main force has successfully stabilized above the 2,000 level! The bullish trend in the 2-hour timeframe is fully established, with the Bollinger Bands and moving averages: the bullish trend is solid, with the mid-band at 2,043 and the lower band at 2,000 both rising in sync, strictly limiting the pullback space. Therefore, Liying believes that the main force will defend the 2,000 level, and as long as it does not break, the rebound trend is unlikely to be reversed. Additionally, there are no clear signs of significant volume outflows from the market, indicating a healthy upward trend. After MACD formed a golden cross, bullish momentum is strong and continues to exert power without signs of weakening, confirming a breakout from this W-bottom formation. Therefore, Liying expects that the market will likely push towards the previous high of 2,200 with continued bullish momentum.
Short-term trading strategy (taught by Liying, precisely aligned with the market)
Bullish approach: Enter in batches when there is a pullback to the 2,020-2,040 range, set a stop loss at 1,980. If this key support is broken, exit decisively. The target is initially at 2,100-2,150, and if broken, continue to look towards 2,199's previous high.
Bearish approach: Only attempt small positions when there is a clear increase in volume and price stagnation in the 2,100-2,150 range, set a stop loss at 2,180, and target for 2,020-2,040.
Message from Liying
The market changes rapidly; following the trend is the key to survival in the cryptocurrency world! This strong rebound of ETH is a gift to patient holders and a warning to those who go against the trend. Remember: small stop losses for large profits, always prioritize risk control.
Scan the code to follow Cryptocurrency Circle Liying on Weibo, allowing you to accurately capture every wave of the market, minimize unnecessary detours in cryptocurrency trading, and earn steadily!
Risk warning: The above analysis is based on real-time market data and is for reference only. It does not constitute investment advice, and trading risks are borne by the individual.
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