The current trend of Bitcoin aligns with the analysis of previous days, still showing a bullish market sentiment on dips. Its support level is roughly in the range of 94000 to 94500, while the resistance level continues to hover around 98000.
Looking back at the trading conditions of the past few days, the long positions have seen one loss and one profit, with the loss being relatively small and the profit quite considerable.
The current market is still in a one-sided trend phase, with some smaller coins having shown exceptional upward momentum in the previous days, but today they have all experienced a pullback.
However, it should be clear that this is not a sign of an impending bear market; it is merely a price correction after the market makers have taken their profits, bringing the price back to a suitable support level. Therefore, the overall trading strategy should still favor buying on dips.
As for today, Bitcoin and Ethereum are likely to enter a pullback range.
For conservative and steady investors, it is recommended to patiently wait for the price to pull back to the support level before taking long positions;
While aggressive investors who insist on making long trades must strictly control their position size and properly set stop-loss levels.
Please note that the above content is not professional investment advice and is for reference and discussion only.
