The unreturnable, is it just time, or also the gradually drifting away market sentiment, and the opportunity that once stood before us? The evening market trend first showed a slight pullback to touch 87,600 points, then began a slow rally until the price surged again to 89,032 points. Ethereum retreated to a low of 2,956 in the evening and found support, with the bulls also showing extraordinary strength, finally pushing upward with momentum and room to grow, reaching a high of around 3,002 in the evening. Although the intraday movement was slow, the overall fluctuation still had some space. The strategy suggested by Lao Chen to first observe the retracement before going long basically aligns with the expected market trend, confirming the arrival of the bulls. As expected, Bitcoin reached the target of 89,000 in the evening, capturing over 1,000 points, while Ethereum also gained 50 points simultaneously.
The intraday market slowed down but couldn't resist the strong upward momentum. After the daily candle formed a doji yesterday, today’s rebound to new highs again confirmed a one-sided trend. From the four-hour chart, the trend remains a strong upward movement with pullbacks that are quick and limited, with bulls repeatedly hitting new highs. During the upward movement of the bullish candlesticks, rapid volume increases often indicate no top, and the short-term will continue this pattern of fast gains and slow retracements. From the hourly chart, combined with multiple bottoming formations and strong support built earlier this week, a highly oscillating and stair-step upward trend is evident. After a slight pullback, the hourly chart shows the bulls quickly extending to high levels, and this trend may continue further.
Operation suggestions:
Tonight, Bitcoin around: 88,000-87,800, go long, target first at 90,000
Ethereum around: 2,955-2,935, go long, target first at 3,100