From the daily perspective, Bitcoin continues to close with a bullish candle above 98,000, having broken the resistance level of 98,000. As mentioned earlier, we are currently in a breakout phase; if it breaks upwards, we look at 100,000-102,000, and if it breaks down, we look at 94,000-92,000. Currently, the market has rebounded and broken through 96,000-98,000. The next resistance level is around 100,000. Ethereum is closing with a bullish candle above 2,730 and is currently testing the resistance level of 2,800, which remains valid. The support levels are 2,750-2,720; if it breaks upwards, we look at 2,850-2,900, and if it breaks down, we continue to look back at 2,720-2,650-2,550.
From the 4-hour perspective, Bitcoin has steadily risen after a second entity dip to the previous low of around 94,000. It is currently oscillating in the upper region above 98,000 of the box range. If it stabilizes above 98,500, it can basically be declared as breaking out of the box, with the next target being the 100,000 mark. Ethereum is in a similar situation, currently oscillating in the upper region above 2,750 of the box structure. If it stabilizes above 2,800, it can basically be declared as breaking out of the box, with the next target being around 2,880, and if it breaks, we can look at the 3,000 mark.
The high-position short positions laid out yesterday for both Bitcoin and Ethereum have some profit space, but if not exited in time, they may currently be in a loss or breakeven situation. Moving forward, we need to shift our strategy to focus on buying on dips. Those who have not exited their short positions can also consider exiting in a timely manner in the retracement area!
Trading strategy: Buy near support levels!
Buy Bitcoin at 98,000-98,500, with a target of 99,500-100,500, and a stop loss below 97,000;
Buy Ethereum at 2,740-2,770, with a target of 2,850-2,900, and a stop loss below 2,700;
The strategy is time-sensitive, and specific guidance will be provided in private real-time!
Professional team gold medal analyst Ruo Yu focuses on contract trading guidance. Follow the WeChat public account "Coin Circle Ruo Yu" to understand real-time market analysis and trading strategies!
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