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In yesterday's market analysis, I recommended entering long positions around 2310~20 for Ethereum, with targets at 2360-2380. Ethereum reached a high of 2385 yesterday before consolidating and pulling back. For Bitcoin, I suggested going long near 73,700, with a target of 75,000. The profits from these trades are quite substantial; both are very good setups!
Now, looking at today's analysis, the daily chart for Ethereum already shows a clear medium-term rebound trend, with the price closely following the upper band. However, on the four-hour chart, short-term bullish momentum has diminished, with multiple attempts to push higher failing to break through resistance levels. Currently, the price has entered a consolidation and buildup phase. In the indicator chart, the MACD fast and slow lines are converging downward, with bullish momentum bars shrinking significantly. Meanwhile, the KDJ is showing a death cross at high levels, indicating a clear short-term correction signal. After a pullback, the price is expected to resume its upward movement.
After successfully forming a bottom, Bitcoin has begun a slow medium-term rebound trend. The current price is near the upper band of the Bollinger Bands, with sufficient bullish momentum and no divergence signals at the top. However, in the indicator chart, the J value of the KDJ has entered the overbought zone, suggesting a short-term pullback. This is a normal correction within an ongoing uptrend and does not indicate a trend reversal. Strong support lies between 70,000 and 72,000, which is the lifeline for the bulls. As long as this level is not broken, the bullish trend remains intact.
I suggest entering long positions around 2320-10, with targets near 2370-2400, and a breakout target of 2430-50. If broken, consider reversing to short!
For Bitcoin, I recommend going long around 73,500-74,000, with targets near 75,000-75,500, and a breakout target of 76,000. If broken, consider reversing to short!
These are my personal opinions. Market conditions change rapidly; strategies are for reference only. Use proper stop-loss and take-profit orders.