Be a friend of time, don’t sweat the daily ups and downs. Use patience to see value, and keep a level head when looking at the market. Looking back at the intraday price action: Bitcoin dipped from 77787 early Tuesday morning down to a low of around 76535, then slightly rebounded to near the 77000 high point. In the afternoon, it retraced again to a low of around 76539, approaching the evening, it touched the bottom and rebounded to a high of 77595 before falling back to around 76658 and then surged violently to a high of 78066, only to deeply retrace to a low of 76155. The day's action can only be described as a roller coaster. We provided 5 trading strategies throughout the day: in the early hours, we went short, perfectly entering Bitcoin at 77717 and exiting at 77150 for a small profit of 600 points. Ethereum entered at 2135 and exited at 2105, nailing a 30-point short. In the morning, we gave another excellent short strategy, entering Bitcoin at 77245 and exiting at 76645 for another 600 points, while Ethereum entered at 2111 and exited at 2089 for 22 points. Near noon, we flipped our strategy to long, entering Bitcoin at 77615 and exiting at 77304, capturing 700 points, and Ethereum at 2089 and exiting at 2121, grabbing 32 points. In the evening, we continued with our morning strategy, going short again, entering Bitcoin at 78026 and exiting at 76788 for 1300 points, and Ethereum at 2138 and exiting at 2108 for 30 points. All strategies and setups are publicly verifiable, no hindsight trading allowed (small positions and ultra-short setups are not included in the stats).
From the price action, Bitcoin’s daily chart shows a high followed by a retracement. After three consecutive bullish candles with high volume, the candlestick formed a long upper shadow. Bulls pushed the price up, but it couldn’t hold the high. This morning’s single bearish candle signals a phase of adjustment, and the market transitioned from a one-sided drop to a range-bound pattern. For short-term bulls to regain an advantage, keep an eye on reclaiming the key resistance level at 78200. The four-hour chart also shows a peak followed by a drop, with the price breaking below the moving average midline that was acting as support for the bulls, currently forming a bottoming pattern. Combining this with the daily single bearish correction, the short-term bearish release seems to be mostly complete, and the overall bullish upward trend remains unchanged.
On Wednesday morning, the recommendation for Bitcoin is to go long in the 75300-76800 range, targeting 77500.
On Wednesday morning, the recommendation for Ethereum is to go long in the 2040-2060 range, targeting 2100.
$BTC $ETH
From the price action, Bitcoin’s daily chart shows a high followed by a retracement. After three consecutive bullish candles with high volume, the candlestick formed a long upper shadow. Bulls pushed the price up, but it couldn’t hold the high. This morning’s single bearish candle signals a phase of adjustment, and the market transitioned from a one-sided drop to a range-bound pattern. For short-term bulls to regain an advantage, keep an eye on reclaiming the key resistance level at 78200. The four-hour chart also shows a peak followed by a drop, with the price breaking below the moving average midline that was acting as support for the bulls, currently forming a bottoming pattern. Combining this with the daily single bearish correction, the short-term bearish release seems to be mostly complete, and the overall bullish upward trend remains unchanged.
On Wednesday morning, the recommendation for Bitcoin is to go long in the 75300-76800 range, targeting 77500.
On Wednesday morning, the recommendation for Ethereum is to go long in the 2040-2060 range, targeting 2100.
$BTC $ETH