U.S. stocks closed mixed, with the Dow Jones down 0.20%, the Nasdaq up 0.12%, and the S&P 500 flat. The crypto market stabilized, with significant sector rotation, Bitcoin stabilized above $100,000, and Ethereum now at $3,900. The market may enter a short-term correction phase as the weekend approaches, with subtle adjustments at high levels or deep adjustments at low levels, all depending on the overall market movement. In the short term, especially on Saturday and Sunday, we should focus on the decline!
After Bitcoin fell to 99,149 in the morning, it showed a trend of fluctuating upwards, and the intraday movement was relatively slow. After a slight pullback in the evening, it rose again, currently reaching a high of 101,768. The market has been fluctuating around 100,000 in the past two days, gradually forming a range of fluctuations, and the long and short positions have been pulling back and forth. From the current market analysis, the current exchange rate is in a high-level consolidation and correction. At present, 102,000 is under great pressure, and it is difficult for the big cake to effectively break through in the short term. If the subsequent exchange rate cannot break through 102,000, it will continue to retreat, and it will become the current trend over and over again. Last night, the market tried to break through this price several times, but they all fell back quickly. However, the bullish forces then exerted their strength again, which shows that the bullish energy is still strong, and it is only a matter of time before the pressure level is broken. From the short-term hourly level price, it has been effectively supported above this support level several times and failed to fall below. This further enhances the bullish atmosphere in the market. In terms of operation, the low-long strategy is still maintained.
After Ethereum stepped back to the low point of 3835 in the morning, it was also in a fluctuating upward trend. It began to fall back from the midnight high of 3964, and currently the lowest reached 3877. At the four-hour level, the price of the currency temporarily maintains above the middle track. The four-hour structure temporarily weakens after the bulls increase in volume. Whether it can break through the short-term high point on Saturday and Sunday is the key to the continuation of space. If it does not break, it will continue to seesaw and oscillate and fall back. At present, the short-term will seesaw back and forth. If it does not break the high for a long time, it is highly likely that the short-term will first retreat to confirm the support and then go higher. Therefore, I personally recommend that you mainly trade in the short term. Considering that, it is recommended that you trade lightly in the short term, reduce the position of each entry, and enter the market in batches, which will be relatively safer!
