At noon, the Bitcoin price strongly approached the 85534 level, but faced resistance at this key point, subsequently entering a slight retracement and consolidation phase. It has now fallen back to around 84500 and is fluctuating. As for Ethereum, it also surged during the noon session, faced resistance near 1650, and then initiated a downward channel, having retraced to around 1620 at the lowest point. We have Bitcoin hovering around fourteen hundred points, and Ethereum around forty points. This market is like this; when it's time to take, you take, when it's time to exit, you exit; opportunities are visible at any moment.
In the 4-hour candlestick chart, after Bitcoin's price touched the middle band of the Bollinger Bands, the downward trend failed to continue effectively, indicating strong support at this position. In the short term, the market's bullish and bearish forces have not yet become unbalanced. If the price can firmly maintain above the key support level of 83000, the bullish trend will still dominate, and a new round of upward movement is expected. From the technical analysis of the hourly chart, the Bitcoin and Ethereum price ratios encountered resistance below the upper band of the Bollinger Bands during the retracement process, then gradually stabilized and began to trend upward. This indicates that the price ratio is under pressure to fall in the short term, but the market's bullish force remains strong, and after a technical correction, it still possesses the momentum for sustained upward movement, suggesting that there may be further potential for rising in the subsequent market. Therefore, the afternoon strategy suggests going long.
You can go long on Bitcoin at 84000-84500, targeting around 86000,
and Ethereum around 1600, targeting around 1700.
