Last midnight period, Bitcoin exhibited a fluctuating upward pattern, with the price stabilizing after a slight pullback to the key support level of 92315, followed by a rise, reaching a high of 94185 early this morning. Overall, it showed a trend of increasing within a range. Ethereum continued its strong momentum during the same period, performing even more robustly, starting its ascent from around 3050, with no significant pullbacks during the trading session, continuously climbing to a high of 3198 early this morning, demonstrating a significant continuation of bullish trends. Last midnight, Yang Jie led some students to place long positions in Bitcoin and Ethereum at 92727 and 9272 respectively, exiting at 93564 and 9365, with Bitcoin gaining 930 points and Ethereum gaining 93 points.
From the current market structure analysis, the daily level shows a consecutive rising pattern, with prices continuously approaching the upper band of the Bollinger Bands, with strong bullish candlesticks and continuous release of bullish volume, highlighting strong upward momentum. Moreover, this round of price increase has successfully broken through the constraints of the previous downward channel, making a bullish trend more likely in the medium to long term. From the four-hour level, after a short-term correction, the market has restarted its consecutive rising trend, with the Bollinger Bands showing an expanding opening, further increasing the upward space. In the short term, there is no significant resistance above, but it is important to note that the KDJ indicator's three lines have entered the overbought zone, and short-term technical pullback risks should be guarded against. Therefore, the morning operation suggests adopting a trading strategy focused on buying on dips supported by key support levels.
Bitcoin: 92700-93200 range for long positions, target around 95000
Ethereum: 3130-3160 range for long positions, target around 3250
