Strong upward surge breaks 100,000, pull back to go long and join the bulls! 12.5 Bitcoin Auntie market analysis and trading ideas
Yesterday, Ethereum once again reached a new high, touching 3890 before pulling back. After the pullback and adjustment, Bitcoin continued to rise, once touching 99,000 USD. In the morning, the bulls continued, and as of now, the price has broken through the 103,000 mark, with Ethereum reaching a high of 3911! The short selling strategy given yesterday perfectly matched the market trend, but unfortunately, the evening short on Ethereum hit the stop loss! Bitcoin also rebounded against the trend from a low position! Overall, there were still gains!
From a technical perspective, Bitcoin's daily candlestick closed with a long lower shadow and a large bullish candle, with the Bollinger Bands opening upward. The price is running between the upper bands, with a strong upward surge as KDJ forms a golden cross and diverges upward again. MACD also shows signs of turning upward, with a slight decrease in volume. From the daily view, there is still potential for further upward movement!
On the four-hour chart, the price oscillated downward but suddenly surged in the early morning. After breaking through the upper band, it has been running above it, with the Bollinger Bands opening significantly. KDJ is turning downward from a high position, and MACD's dual lines formed a golden cross upward, with volume gradually increasing! However, the four-hour closing produced a long upper shadow hammer, so caution against pullbacks is advised!
Overall, the market shows strong bullish sentiment, and chasing highs is obviously inappropriate. Pullbacks can be used to go long, but caution against selling pressure is also necessary! Watch for resistance levels at 105,000 and 106,000, and support levels at 99,700, 99,000, 97,500, and 95,600 where bulls and bears contest.
12.5 Bitcoin trading strategy: Enter long on pullbacks at 99,000-99,700, with a stop loss at 98,000, and target 100,000-102,000-105,000.
Attempt to short at 105,000-105,300, with a stop loss at 106,000, and target 104,000-103,000-102,000. Hold if broken, depending on the situation!
12.5 Ethereum trading strategy: Go long on pullbacks at 3780-3820, with a stop loss near 3730, and target 3900-3920, and if broken, aim for 3960-4000 in the long term.
Do not short Ethereum for now. The market has surged so much directly, and Ethereum has not followed. Wait for signs of stagnation or selling information before considering a short!
Unlimited capital boost finally breaks the 100,000 barrier! If you can't beat the bulls, join them. Be cautious with shorting! If you don't understand, or can't pick the right entry points, you can follow Conan's strategy to charge together! $BTC $ETH
