Last night, the Bitcoin market refreshed its high again, reaching a peak of 108,366 before a sharp pullback. After the retracement, the price of the coin warmed up again. This kind of back-and-forth tug-of-war in the market can easily turn you into fodder if not properly managed. As for Ethereum, with the sideways volatility continuing yesterday afternoon, it should have a downward trend in the evening. The lowest point reached 3,844 in the early morning. The long position we set up at midnight yesterday was also perfectly exited, and the strength speaks for itself.

From the current market perspective, Bitcoin has once again retraced downwards after breaking new highs yesterday. Currently, the trend has tested the bottom multiple times without showing signs of breaking the lower support. In the short term, the downward trend is continuously gaining volume, and the downward space is gradually shrinking, while the upward movement appears slightly weak. On the daily level, the trend still firmly stays above the three-day moving average, and after the evening retracement touched this line, it quickly rebounded, showing strong support.

Trading Suggestions

Long Bitcoin at 105,000-105,500 Target 108,000

Long Ethereum around 3,850 Target 3,950

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