Friday also marked the end of the week's market, which can be described as exaggerated. In the early hours, the cryptocurrency price dropped from a high of 102,756 to a low of 92,272. This level of retracement can be considered quite significant. After reaching the low, the price rose again to around 97,681 at midnight. This kind of market movement is also rare, and in the evening, it formed a deep V pattern. The movement of Ethereum is generally similar to that of Bitcoin. After hitting a daily low of around 3,100, it began to rebound.

From the current market, it can be seen that after testing the support level of 92,000, the market quickly formed a V-shaped recovery, with bulls continuously increasing their volume to reclaim prices near the morning opening price. From an hourly perspective, the market has once again risen above the mid-line and shows signs of stabilization, but overall, it is still in a weak downward trend. We can observe the continuation strength of the bulls in the next couple of days, as the weekend approaches, the market is expected to continue operating around a fluctuating rhythm. At midnight, we can focus on low positions to catch the continuation strength.

Trading Suggestions

Buy Bitcoin around 96,500, target 98,000

Buy Ethereum around 3,400, target 34,803,644,664,538,729,878,391,811,459,718,981,983,499,993,412,976,089,550,731