Every successful person has a beginning; only by daring to start can one find the path to success. Before doing things, consideration and planning are necessary, but only action can bring about real growth. On Friday, the market showed an overall tug-of-war between bulls and bears, with a small fluctuation base in the intraday price. After a morning dip to the low point of 90800, it began to oscillate upwards slowly throughout the day, with the highest recovery reaching around 92665 at noon, followed by a slow pullback. The rhythm of Ethereum was consistent with Bitcoin; it pulled back to the 3064 line in the morning and also consolidated intraday. The rebound provided by Ethereum in the afternoon was relatively strong, currently peaking at 3192. In the morning, we received the long position as expected, and Old Chen firmly held a bullish outlook. After taking down over 1000 points on the long position near 91000 in the morning, Ethereum entered the market simultaneously. The long position suggested around 3080 was raised to 3180 for exit, also capturing nearly 100 points of space.
The daily chart still shows a tug-of-war between bulls and bears. As the market price tests the resistance above 93000 again, although no breakthrough has been made in the short term, the pressure above will face a significant test. This is also a clear bullish pattern; the short cycle shape is clearly visible, showing a trend of oscillating upwards, with the low points gradually rising and the high points maintaining a similar level. The short-term pressure is at the 93500 line. Clearly, the downward momentum is difficult to contend with the upward trend, and the bulls are gradually gaining the initiative. Once it stabilizes again at the 92000 position, a follow-up push will be an inevitable trend. Additionally, the repeated testing of the same pressure point does not mean that the effect of that pressure point continues to be effective; rather, it is gradually weakening, and the final pressure level will be broken.
In the afternoon, Bitcoin should be traded long around 91800-91500, aiming first for 93500. Ethereum should be traded long around 3140-3120, aiming first for 3280.
