On Friday morning, an analysis and trading suggestions for Bitcoin and Ethereum
On Thursday, the cryptocurrency market performed strongly, with Bitcoin continuing its upward trend from a low of 85260, reaching a high of 89449, resulting in a daily increase of over 4000 points. Ethereum also followed suit, starting from around 2800 and approaching the 3000 mark, showing a clear correlated upward trend. The market rhythm was well grasped, and the intraday Bitcoin long position strategy yielded significant results.
From a four-hour perspective, after a continuous rebound of five bullish candles, the market is currently in a consolidation phase near the upper Bollinger Band. The three Bollinger Bands are gradually narrowing, indicating that the market is in a power accumulation phase—bullish momentum has not diminished, but rather solidified the bottom through time to gain space. The price has recently pulled back to test the mid-band support and has shown stability, which accumulates momentum for further upward movement. Overall, the technical correction after a continuous rise is a reasonable phenomenon, as it releases some short-term pressure and makes the upward structure healthier.
In terms of operations, it is recommended to focus on the stabilization signals after a pullback to key support areas, seizing opportunities for low long positions, and patiently waiting for the continuation of the bullish trend after the consolidation ends.
Trading Suggestions:
Bitcoin: Pay attention to long position opportunities near 85300-85800, with a target towards 88000
Ethereum: Pay attention to long position opportunities near 2780-2800, with a target towards 2900
