Morning Thoughts on the 7th
From the daily chart perspective, yesterday's performance ended with a strong bullish candle, re-breaking and continuing upward. The current price is above all daily moving averages, showing a slight upward breakout in the short term, but it has not further broken through the 1030 level. The upper space has not been opened further, and a slight pullback is expected in the short term. This indicates that there is still strong selling pressure in this area. If there is another rebound reaching this level, there is still a risk of a pullback. Therefore, it is not recommended to blindly chase long positions without a breakthrough. Be cautious of the market being under pressure and potentially pulling back to support levels again. Although the daily trend continues to rebound from yesterday, it has not broken through again, and the market remains in a tug-of-war between bulls and bears. It is expected that the volatile market will continue for some time.
From an hourly perspective, the Bollinger Bands are opening, and the market is running in the upper region above the upper Bollinger Band. All moving averages are in an upward attack posture, and the price is under upward pressure, with short-term movements starting to be hindered by a pullback. Currently, the price is running around the 1020 level. The short-term trend has entered a pullback rhythm, and the next focus is on the support line at the 100,000 level. As long as the pullback does not break down, the market will enter a high-level consolidation phase. The strategy remains to go short at high levels and long at low levels.
Operation Suggestions:
Short around 1021-1023 for Bitcoin, targeting 1010-990. For Ethereum, short around 371-373, targeting 360-358.
Specific strategies should be based on real-time market conditions. Official account: web3博彦
