In the early hours of today, the Bitcoin price surged to a high of 107,777 before starting to face pressure and pull back. In the morning, the market dipped to a low of 105,424. A pullback after a surge is also a normal phenomenon. The afternoon market has been in a state of fluctuation. Earlier in the afternoon, we reminded everyone that if there wasn't much fluctuation during the daytime, we should pay attention to the opening of the US stock market. As expected, in the evening, with the opening of the US stock market, the price once again refreshed its high, reaching a peak of 108,366 before quickly giving way to a downward spike. The trend has been mainly bullish these days. Tonight, there were also liquidations. As for Ethereum, after a surge in the early morning, it has been in a sideways fluctuation throughout the day. In the evening, the bulls did not catch the opportunity, but instead, the bears took hold, and the price dipped to a low of 3,933.
From the current trend, the hourly level has shown a serious divergence, and from the 4-hour level, the market is also experiencing a continuous bearish state. In the evening, there was also a spike down, leaving a long wick. Although there is some space for a pullback at the moment, the overall upward trend does not need much explanation; the pullback is merely returning to the previous day's starting point, and after multiple prior pullbacks, a strong rebound is also unavoidable. We will still participate in long positions in the midnight session.
Trading Suggestions
Long Bitcoin at 105,000-105,400 with a target of 107,000
Long Ethereum around 3,900 with a target of 4,000
