Let's do a quick recap. Yesterday at 1 PM, Bitcoin started to ignite around 76800, with the MACD volume bars performing steadily. During the consolidation phase, we faced resistance at 77300 at 3 PM and 7 PM. However, the next hourly candlestick absorbed this selling pressure with larger buying. Only at 9 PM did we see some serious sell pressure, which merely touched 76800 for a retracement test. After that, it shot up a thousand points, testing resistance. During the night session on the 20th, the price was capped below 77800, with trading volume gradually slowing down and indicators looking impeccable.
Focusing on the details, the launch point during the day was around 77500. After a rebound at 3 PM, we had a second retest at 5 PM. Currently, Bitcoin's hourly EMA120 and EMA144 are around 77800, while the four-hour EMA120 sits at 78200. The most reasonable scenario recently is to repeatedly challenge the upper moving averages until we establish a solid position. We can go long around the new divergence at 77300 and add at 76800. The short-term trading range is also between 76800 and 78500. If momentum isn't enough, we’ll handle it with consolidation. If we break through, we’ll consider adding on a retracement. If we short the range, make sure to set a stop loss a few hundred points away.
Ethereum's movement has been oscillating in the 2227-2247 range, making eight trips back and forth, with over twenty points of movement occurring ten times. The divergence is at 2235, and in the future, we can trade within the 2090-2150 range. We can consider entering around 2128 and adding at 2100. Going long is the safest play. The one-hour EMA120 for Ethereum is around 2150, while the four-hour EMA120 is far at 2250. The downside space is quite limited, whereas the upside looks promising, but the potential for oscillation space is even better. Hope you all find this useful.
#btc #eth
Focusing on the details, the launch point during the day was around 77500. After a rebound at 3 PM, we had a second retest at 5 PM. Currently, Bitcoin's hourly EMA120 and EMA144 are around 77800, while the four-hour EMA120 sits at 78200. The most reasonable scenario recently is to repeatedly challenge the upper moving averages until we establish a solid position. We can go long around the new divergence at 77300 and add at 76800. The short-term trading range is also between 76800 and 78500. If momentum isn't enough, we’ll handle it with consolidation. If we break through, we’ll consider adding on a retracement. If we short the range, make sure to set a stop loss a few hundred points away.
Ethereum's movement has been oscillating in the 2227-2247 range, making eight trips back and forth, with over twenty points of movement occurring ten times. The divergence is at 2235, and in the future, we can trade within the 2090-2150 range. We can consider entering around 2128 and adding at 2100. Going long is the safest play. The one-hour EMA120 for Ethereum is around 2150, while the four-hour EMA120 is far at 2250. The downside space is quite limited, whereas the upside looks promising, but the potential for oscillation space is even better. Hope you all find this useful.
#btc #eth