On Friday, after a day of fluctuations and slow declines, the price retreated to around 96000 in the afternoon and then began to warm up slightly. The short position idea we provided in advance around 97000 also accurately reached the expected point, and we followed up by entering long positions. In the evening, the price surged again, reaching a maximum of around 97637. Given the current situation, the price is unlikely to stop here. On the Ethereum side, after reaching around 3421 in the afternoon, the bulls began to exert force, currently pushing up to around 3580. We also timely provided a bullish outlook for everyone in the evening, targeting 98000, which has been successfully achieved.
From the daily structure perspective, the price has also broken through the strong support of the mid-track. Although there has been a breakthrough, it lacks a certain degree of continuity. Once the decline enters a stagnation, there is a high probability of a rebound. Observing the recent trends and even the patterns of the past month, there is often a significant degree of counter-trend movement during periods of stagnation or slow trends. Therefore, while the short-term structure is slowly at a low level accompanied by a rebound, we should be cautious of the appearance of a rebound trend. If the decline stops, there will be a noticeable resistance to further declines, so we should continue to maintain low positions and look for rebounds. From the 4-hour structure perspective, multiple upward attempts have also been accompanied by certain pullbacks.
Operation Suggestions
Long Bitcoin at 96800-97100, target 98500
Long Ethereum around 3550, target 3620
