12.2 Early Morning Thoughts
Bitcoin is currently priced around 95,200, with a morning peak reaching 98,200 before pulling back, and a minimum dip to 94,800 where it stopped falling. The hourly chart's Bollinger Bands are wide open, with all three lines trending downward, so it may be a bit early to say a stop-loss signal has appeared. On the 4-hour chart, the price has broken below the lower support, currently testing near the lower support level. Only after the price stabilizes above 95,500 can we say a stop-loss has occurred. The MACD is below the zero line, with bearish momentum increasing, and the KDJ three lines have not yet converged to form a golden cross.
Based on the retracement space of the four-hour line, we can still view the current pullback as a correction. The bottom of the last large bullish candle is the critical point for the bulls. As long as it stays above this level, the market will maintain a strong consolidation pattern. From the current structure, the market's strong characteristics are still evident, and the local pullbacks are accumulating strength for the bulls. Our early morning strategy will primarily focus on buying low!
Bitcoin Buy near 94,500/94,800, targeting 96,500/97,000
Ethereum Buy near 3,560/3,580, targeting 3,680/3,700
Remember to set take-profit and stop-loss orders during night trading, depending on personal position!
