Friday morning strategy sharing

Bitcoin does show a certain bullish trend at present. Yesterday's strong rise to 63,800 showed strong buying in the market. Although there was a pullback afterwards, the overall adjustment was not strong, which shows that bulls still have the momentum to continue to rise.

With the macro fundamentals constantly supporting the rise of Bitcoin, the small-cycle negative line pullback can be regarded as a normal market fluctuation. This pullback does not mean the end of the overall upward trend, but may be that the market is accumulating strength for the next wave of rise. Therefore, in the short term, Bitcoin is expected to try to rise slowly.

In terms of the strength of the intraday retracement, according to the current market rhythm and structure, it is not expected to be too large. The market is currently running around short-term bulls, and the overall structure is expected to continue to maintain an upward pattern after the retracement.

Position suggestion

BTC short-term: 62300–62600 long, target 64000–65000

ETH short-term: 2420 long, target 2588

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