The market performance on Thursday was affected by Powell's statement that the US central bank will not hold Bitcoin, leading to a continuous price correction. In the morning, the market plummeted to around 98,800 before stabilizing. After testing the support at the performance point, the market continued to reach a daily peak of around 102,700. After the US stock market opened in the evening, the market saw another pullback, but it did not drop below the daily low. Subsequently, the market continued to approach the 100,000 threshold. Overall, the performance indicates that the bears have not taken the dominant position, altering the current trend. The layout of the indoor stone sail is still focused on short positions, mainly driven by the pullback after the overnight news release and the buying power after the morning plunge. In the short term, there is no need to overanalyze real-time statistics. Bitcoin has gained a total of 4,707 points for the day, while Ethereum's layout has gained a total of 241 points. The bull market has consistently reminded everyone to stay bullish, as this is the major trend. Our trading strategy should definitely follow the trend rather than go against it, and managing position advantages is our starting point for a turnaround.
Currently, from the perspective of the overnight market, the daily chart still presents a doji candlestick, recovering from the daily pullback. Although there have been fluctuations testing the mid-band support, it has not stabilized, and the market is still oscillating around the mid-band. Due to the continuous high trading volumes in the previous few transactions, a deep correction after the pandemic is also expected. The depth of the correction has already been established, testing support around 98,000 without success, yet the market remains strong in recovery. However, the daily consolidation has not ended, and there is still room for further consolidation in the short term. For small positions in short-term trading, there is no need to pursue long positions too deeply; managing positions well and finding the right entry point is sufficient. In the 4-hour chart, a downward trend is visible, with rebounding high points continuously decreasing. The downward trend line has formed, and the lower boundary of the 4-hour chart is still trending downwards, but the opening of the US stock market in the evening did not lead to further market lows. Given the risks of buying at the bull market node, the potential gains are certainly greater than shorting, so in the evening operations, maintaining low buy positions is advisable, with light positions near 100,000.
Bitcoin can be bought in the range of 99,500 to 100,000, targeting around 102,500. Ethereum can be bought in the range of 3540 to 3570, targeting around 3730.