Bitcoin and Ethereum weekly close is approaching, trend analysis for next week

After a rise in coin prices, they have been consolidating at high levels, with lower lows continuously rising and higher highs also on the rise, full of signs of further strength! According to the daily MA moving average indicators, Bitcoin and Ethereum have been on the rise since breaking through the 7-day and 10-day moving averages.

The weekend's sideways movement appears to be a transition in the upward trend, which is also a continuation pattern in the rise. Additionally, the MA 7-day and 10-day moving averages are turning upward, and support is continuously rising. Pay attention to the strength of the moving averages at the 96000 to 96500 and 3540 support levels.

In terms of K-line patterns, Bitcoin and Ethereum have recently fluctuated around 98000 and 3600, forming a relatively obvious oscillation range. There was a rapid increase earlier accompanied by volume expansion, but it was followed by high-level consolidation.

The weekly close is also set to finish positively, and in the short term, it will rely on the support of the lower moving averages for a wave of increase. However, once the moving average support is broken, the market will weaken. It is recommended to go long on Bitcoin around 96600 to 97200, targeting near 99000.

For Ethereum, go long around 3560 to 3590, targeting near 3680.

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