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High-level consolidation, weekend market conditions are based on repairing the market
It’s the weekend again, first of all, I wish everyone a happy weekend. Looking back at this week's market conditions, Bitcoin has experienced a relatively deep pullback compared to before, approaching around 90,000, facing resistance below 90,800 and starting to rebound. This pullback has given the struggling miners a chance to catch their breath, most miners have been liberated, but the trend of the miners has not continued and has begun to rebound, indicating that this round of bull market has not yet ended and is already approaching its end. There may still be a possibility of another surge in the future, just be patient and wait.
Looking at the market, the resistance level above Bitcoin is around 97,500. If this position does not break through completely over the weekend, then the two days of the weekend are likely to follow the rhythm of a pullback to repair the market. The support below is around 94,800, and it is likely that there will be oscillation and adjustment around this position over these two days.
Looking at the 4-hour Bollinger Bands for Ethereum, the upper and lower bands are converging towards the middle line, indicating that it may also enter a phase of oscillation and adjustment like Bitcoin, with a downward trend. Over the weekend, the overall trend of Silk Road will synchronize with Bitcoin, and one can enter positions at high levels.
Operating suggestions:
Enter Bitcoin around or above 97,000, placing the stop-loss above the resistance level, with a target around 95,000. Short-term trading is at your discretion.
For Ethereum, it is suggested to enter around 3,620, or you can enter at the current price, with a stop-loss at 3,660 and a target at 3,540. Short-term trading is at your discretion.
The opinions provided are for reference only, please take specific actions based on actual conditions.
It’s the weekend again, first of all, I wish everyone a happy weekend. Looking back at this week's market conditions, Bitcoin has experienced a relatively deep pullback compared to before, approaching around 90,000, facing resistance below 90,800 and starting to rebound. This pullback has given the struggling miners a chance to catch their breath, most miners have been liberated, but the trend of the miners has not continued and has begun to rebound, indicating that this round of bull market has not yet ended and is already approaching its end. There may still be a possibility of another surge in the future, just be patient and wait.
Looking at the market, the resistance level above Bitcoin is around 97,500. If this position does not break through completely over the weekend, then the two days of the weekend are likely to follow the rhythm of a pullback to repair the market. The support below is around 94,800, and it is likely that there will be oscillation and adjustment around this position over these two days.
Looking at the 4-hour Bollinger Bands for Ethereum, the upper and lower bands are converging towards the middle line, indicating that it may also enter a phase of oscillation and adjustment like Bitcoin, with a downward trend. Over the weekend, the overall trend of Silk Road will synchronize with Bitcoin, and one can enter positions at high levels.
Operating suggestions:
Enter Bitcoin around or above 97,000, placing the stop-loss above the resistance level, with a target around 95,000. Short-term trading is at your discretion.
For Ethereum, it is suggested to enter around 3,620, or you can enter at the current price, with a stop-loss at 3,660 and a target at 3,540. Short-term trading is at your discretion.
The opinions provided are for reference only, please take specific actions based on actual conditions.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
BTC
95,159.99
-1.84%
ETH
3,588.79
-2.51%
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