On Friday, Bitcoin's market performance showed limited fluctuations, essentially maintaining a range-bound rhythm. Starting from the morning, it followed the strategy of high sell and low buy within the range. During the day, both bullish and bearish operations were present, with Bitcoin achieving a total of 2000 points and Ethereum also gaining over 100 points. As of now, the coin price still hasn't moved out of the range, and with the weekend approaching, the market is likely to continue following the range-bound rhythm.
Although the short-term market has stalled, Bitcoin's daily line has entered an adjustment cycle since being pressured at the 100,000 mark in November. It then went through a triangular oscillation and upward movement, successfully breaking through the 100,000 psychological resistance point last week. This 100,000 position was previously where it faced pressure and dropped sharply; now it has formed a top-bottom conversion and double-bottom support. After a pullback to this line, it is highly likely to stabilize and rise. Although in the short term, the bullish market is encountering resistance from 102,500 to 101,800, the overall outlook remains optimistic. Just like in the earlier bullish rebound process, where every challenge was met and overcome, it is expected to break through resistance and continue upward after the weekend consolidation. In the short term, it is advisable to maintain participation in the range provided by Bitcoin, and follow the trend once the market breaks out.
As for Ethereum, even though it is under pressure at the 4,000 mark in the short term, the coin price has stabilized and risen after multiple retests of the support point below, indicating that the medium-term bullish trend remains strong and the overall upward trend has not changed. In the short term, Ethereum's market has also entered a range-bound oscillation repair rhythm. Although the pace is slow, after the correction, the coin price may greet a new round of increases. Before that, continue to trade short-term based on the high and low points of the range!
On Friday midnight, Bitcoin continued to reference the range of 99,000 to 102,500 for high sell and low buy, while Ethereum referred to the range of 3,800 to 4,000 for participation. If a breakout occurs, just follow the trend accordingly!#BTC重回关键位置后走势 #比特币战略储备