DAILY PRICE MOVEMENTS AND RECALLS IN BTC AND ETH MARKETS❗️
After the rise and discovery in the morning hours, the price entered a fluctuating range again. After the slight pullback in the morning, the price rose to 69150 levels but encountered resistance. In the afternoon, the BTC price retreated to 68500 levels. ETH's market data also fell to 2720 levels. A short-term sell position was taken around 69100 and a profit of approximately 400 points was made. In ETH, a short position was taken at 2743 in the morning and a profit of 17 points was made. It is useful to remember that the volume will not be strong during trading hours.
The four-hour chart shows that a bearish doji candlestick has formed and that the strong upward movement in the Bollinger Bands has been corrected by a small pullback. In order for the price to rise, it must first fall. The candlestick movement shows a pullback around the middle band. With the narrowing of the Bollinger Bands, the lower band is seen to be around 67700. This small pullback is not enough for the bears to regain strength. Therefore, an upward movement should be expected following the pullback. The market may fully recover after the US stock market opens.
A long position can be opened at 68500 levels in BTC, the target is 70000. A long position can be taken at 2700-2720 levels in ETH, the target is 2800.
Conclusion: The expectation of an increase in the market continues, but trading volumes are weak.
- The information contained in this article is never investment advice, but is for accurate and up-to-date information purposes. STAY TUNED‼️ Be sure to do your own research❗️
