Wednesday evening Bitcoin and Ethereum market analysis and trading suggestions
The afternoon bullish outlook has been validated again, and we realized small profits by positioning long at lower levels. The recent market rhythm is relatively clear, opportunities still exist, and it is recommended to stay focused and follow rationally. I am Lao Tian, dedicated to finding stable opportunities in a volatile market through professional analysis and calm judgment while managing risk.
From the market perspective, the 4-hour level shows that Bitcoin is currently in a low-volatility consolidation phase, with signs of a slight contraction in the Bollinger Bands. The 5-day and 10-day moving averages are converging around the 87000 level, the MACD red bar momentum is weak and has not turned green, and the RSI is stable around 55. Overall, the market is still dominated by bulls, but the upward momentum has weakened, and multiple rebounds show signs of fatigue.
At the 1-hour level, Bitcoin rebounded to the 87100 level and encountered resistance, entering a correction again. The Bollinger Bands are in an expanding format, with the middle and lower bands continuously declining, indicating a clear short-term correction trend. The MACD fast and slow lines are located below the zero axis and are turning downward, with the DIF crossing down to form a death cross, indicating that bears are dominant in the short term. This evening, pay close attention to whether the support at the 86000 level below is effective, and continue to adopt a high sell-low buy strategy in operations.
Trading suggestions:
Long positions for Bitcoin can be built in batches around 85800 to 86300, with attention to 87500.
Long positions for Ethereum can be built in batches around 2890 to 2920, with attention to 3000.
