The overall market in the early session still remains in a phase of oscillation and consolidation. The overnight行情 retraced to reach a key support level and rebounded. Currently, Bitcoin's second rebound is blocked at 67,000, showing some pressure, but the retracement has not created much space. The overall price comparison continues to stay above 66,000 with sideways fluctuations. As for Ethereum, it mirrors Bitcoin's pattern, with the highest rebound reaching 1988 and facing resistance. The morning pullback was weak, and the price stopped falling around 1950. It is now consolidating around 1970. In real trading, Bitcoin set up long positions near 66,000 and added to positions around 65,000 to lower the average price. In the morning, it rebounded to around 67,000 and exited for a profit, gaining about 1300 points. Ethereum entered long positions near 1920 in the morning and exited around 1980, gaining about 60 points. In the short term, both bullish and bearish signals indicate potential breakouts, but the current strategy remains to operate within the sideways range.



Looking at the current market, the daily chart continues to oscillate around the midline. The Bollinger Bands are tightening, indicating that the correction is about to end, and the market will then show signs of strength or weakness. On the four-hour small cycle chart, the triangle range is relatively tight. The distance to a breakout remains significant, and the key resistance levels at 68,200 and 70,000 need to be watched closely. A breakout above these levels would signal further bullish continuation. Multiple tests of the support levels have shown signs of rebounds, indicating strong support. However, if the market continues to break down again, there is still a risk of a sharp decline. The 60,000 level remains vulnerable to being lost, but that is a matter for later. Currently, the candlestick is under pressure from the MA120, but as the moving averages shift upward, a breakout remains possible. In the short term, without any negative news, the current strategy is to maintain operations within the sideways range, mainly buying low.

Bitcoin can be bought in the range of 65,500-66,600, with a target around 68,200. Ethereum can be bought in the range of 1930-1950, with a target around 2020. $BTC $ETH
BTC-1,13%
ETH-2,3%
View Original
post-image
post-image
post-image
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
  • Pin

Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)