1.10 Early Morning Bitcoin and Ethereum Trading Suggestions and Direction Analysis
The evening news had mixed impacts on the market sentiment with no significant effect on the chart. However, after US stock market opening, there was some rebound and pullback. After yesterday's daytime deep pullback near the 89,600 level, it continued to consolidate and correct in a range. A strong rebound appeared at midnight close, forming consecutive large bullish candles, reaching a high near 92,000 level with pressure, currently oscillating around 91,500 level. The Bollinger Bands are in an opening state, and after the price broke above the upper band, it pulled back slightly, showing strong short-term bullish momentum with some pullback pressure in the short term. From the MACD indicator: DIF and DEA formed a golden cross, positioned below the zero axis, and the line is turning upward, while the MACD histogram turned from negative to positive, indicating the mid-to-long term trend is biased toward bulls. It's worth noting that trading volume expanded significantly during the rebound, demonstrating active entry, supporting the short-term uptrend. Overall, we're in the first pullback stage after breaking below the 90,000 level. If the 90,000 level support holds, then there's a high probability of maintaining range oscillation and upward movement. Therefore, Lao Zhao's early morning trading suggestions are mainly based on a low absorption and high selling strategy:
BTC: Can go long near 91,500-91,000, watch 93,000 ETH: Can go long near 3,130-3,100, watch 3,200#BTC #ETH
1.10 Early Morning Bitcoin and Ethereum Trading Suggestions and Direction Analysis
The evening news had mixed impacts on the market sentiment with no significant effect on the chart. However, after US stock market opening, there was some rebound and pullback. After yesterday's daytime deep pullback near the 89,600 level, it continued to consolidate and correct in a range. A strong rebound appeared at midnight close, forming consecutive large bullish candles, reaching a high near 92,000 level with pressure, currently oscillating around 91,500 level. The Bollinger Bands are in an opening state, and after the price broke above the upper band, it pulled back slightly, showing strong short-term bullish momentum with some pullback pressure in the short term. From the MACD indicator: DIF and DEA formed a golden cross, positioned below the zero axis, and the line is turning upward, while the MACD histogram turned from negative to positive, indicating the mid-to-long term trend is biased toward bulls. It's worth noting that trading volume expanded significantly during the rebound, demonstrating active entry, supporting the short-term uptrend. Overall, we're in the first pullback stage after breaking below the 90,000 level. If the 90,000 level support holds, then there's a high probability of maintaining range oscillation and upward movement. Therefore, Lao Zhao's early morning trading suggestions are mainly based on a low absorption and high selling strategy:
BTC: Can go long near 91,500-91,000, watch 93,000
ETH: Can go long near 3,130-3,100, watch 3,200#BTC #ETH