Trading philosophy: Look at the trend in the long term, find the position in the short term.
Market review: After the market stabilized at around 63,500 for Bitcoin and 3,150 for Ethereum, it steadily rose to encounter resistance at the middle track of the daily Bollinger Bands. It has been oscillating sideways for the past two days. The reference range is 65,500-67,000 for Bitcoin and 3,150-3,250 for Ethereum. We have repeatedly taken profit by setting up long positions based on the support level below, and currently, we are holding some bottom positions and observing.
Technical analysis: For Bitcoin, the daily chart has reached the middle track of the Bollinger Bands, and the Bollinger Bands have started to run flat. The MACD moving average is running parallel, and the selling volume continues to decrease. The KDJ line is moving upward. On the 4-hour chart, the Bollinger Bands continue to contract and run upward, the MACD moving average runs parallel, the buying volume gradually decreases, and the KDJ line moves downward. As for Ethereum, various technical indicators are basically synchronized with Bitcoin, except that the daily MACD has formed a golden cross and is moving upward, and the buying volume is beginning to show, but it is currently also blocked by the middle track of the Bollinger Bands.
In summary, the daily chart has reached the middle track of the Bollinger Bands. The current resistance is still very strong, but after encountering resistance, the market chose to consolidate sideways instead of falling rapidly. I personally believe that the bulls will test the pressure again. Once successful, Bitcoin at 68,500 and Ethereum at 3,350 should not be a problem. The subsequent operation is still recommended to focus on long positions.
Operation suggestions:
Long position in the 65,500-65,900 range for Bitcoin, with a target of 67,000-68,000, and defense at 65,000.
Long position in the 3,150-3,180 range for Ethereum, with a target of 3,250-3,350, and defense at 3,100.
The strategy is time-sensitive, and specific guidance in real time is subject to private consultation.
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