1.6 Afternoon Thoughts
From the daily chart perspective, BTC has continuously formed 7 red candlesticks, with the price reaching the daily MA30 moving average at 9.83. Currently, it is important to monitor whether the price can consistently stay above 9.83. If it does, the market will return to a bullish trend; otherwise, it will continue to be trapped in a consolidation adjustment!
In the 4-hour time frame, the trend remains in a continuous upward state. The short-term trend is very strong, exhibiting a stable upward oscillation trend, with each price fluctuation gradually raising the overall price level, demonstrating strong upward momentum and positive market sentiment. However, it is worth noting that the 100,000 level remains a strong resistance for Bitcoin. In terms of trading strategy, we will continue to focus on buying on dips, with selling at high positions as a supplement!
Bitcoin: Buy on dips around 98,500-98,800, target 100,500
Ethereum: Buy on dips around 3,620-3,640, target around 3,740
