1.7 Afternoon Bitcoin and Ethereum Trading Suggestions and Direction Sharing
From the current market situation, the 1-hour chart shows that Bitcoin is oscillating around the middle band of the Bollinger Bands. After a surge to around 93,800 early this morning, there was a significant pullback, with the lowest touching 92,190, forming a long-bodied candle indicating a retreat. This suggests heavy selling pressure above. In the short term, prices are between the middle and lower bands, showing a slightly weak consolidation trend. However, each rebound is blocked and corrected without falling below 92,000, indicating that this support is effective in the short term. The pullback is a normal correction within the range. Therefore, the afternoon trading strategy is still to follow the morning approach: focus on buying on dips above this support. Buy near 92,500 to 92,000 for Bitcoin, watch for 94,000. Buy near 3,250 to 3,220 for Ethereum, watch for 3,320.
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1.7 Afternoon Bitcoin and Ethereum Trading Suggestions and Direction Sharing
From the current market situation, the 1-hour chart shows that Bitcoin is oscillating around the middle band of the Bollinger Bands. After a surge to around 93,800 early this morning, there was a significant pullback, with the lowest touching 92,190, forming a long-bodied candle indicating a retreat. This suggests heavy selling pressure above. In the short term, prices are between the middle and lower bands, showing a slightly weak consolidation trend. However, each rebound is blocked and corrected without falling below 92,000, indicating that this support is effective in the short term. The pullback is a normal correction within the range. Therefore, the afternoon trading strategy is still to follow the morning approach: focus on buying on dips above this support.
Buy near 92,500 to 92,000 for Bitcoin, watch for 94,000.
Buy near 3,250 to 3,220 for Ethereum, watch for 3,320.