Trading philosophy: Look at the trend in the long term, and find entry points in the short term.
Market review: Starting from the bottom of the market at Bitcoin 60000 and Ethereum 2900, we have been positioning long at the low levels. As mentioned earlier, if the market stabilizes around Bitcoin 63500 and Ethereum 3150, the bulls may open again. We can ambush long positions based on the support levels below. We started to ambush long positions from around Bitcoin 63000 and Ethereum 3100. Yesterday afternoon, the market oscillated and consolidated, and we suggested going long at Bitcoin 64000-64500 and Ethereum 3100-3130, with targets at 65500-66500 and 3200-3250. Currently, the market has successfully met expectations, with long positions gaining over 2000 points for Bitcoin and over 100 points for Ethereum, and we have exited at the profit-taking levels!
Technical analysis: For Bitcoin, the daily chart has reached the middle of the Bollinger Bands, and the bands have started to run flat. The MACD moving averages are running parallel, and the bearish volume continues to decrease. The KDJ line is moving upwards. On the 4-hour chart, the Bollinger Bands have started to contract upwards, and the market has reached the upper band. The MACD moving averages are moving upwards, and the bullish volume is increasing again, while the KDJ line is running parallel. As for Ethereum, various technical indicators are basically synchronized with Bitcoin!
Overall, at the daily chart level, the market has reached the middle of the Bollinger Bands, and the current resistance is still very strong. Once successfully broken, Bitcoin 68500 and Ethereum 3350 should not be a big problem. Subsequent operations can consider testing the market for a breakthrough once!
Trading suggestions:
Long at the 65200-65600 area for Bitcoin, with targets at 66500-67500, and defend at 64300!
Long at the 3140-3170 area for Ethereum, with targets at 3250-3350, and defend at 3100!
The strategy is time-sensitive, and specific guidance in real time should prevail!
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