3.5 Daily Analysis by Yifan
Market cycles repeat themselves. Bear markets always end in despair, while bull markets are born amidst doubt. The current steadfastness is to迎接 the next暴力 spring. Looking back at Thursday early morning's Bitcoin and Ethereum movements, Bitcoin's overall pattern shows a rally followed by a pullback. The price initially dropped to a low of 72467, then steadily moved higher, reaching a high of 74046 before stalling and retracing. Ethereum's movement was also synchronized with Bitcoin, rising to a high of 2199 before turning lower.
From the current chart, the 4-hour Bollinger Bands are gradually opening, with solid and effective support below. The price has tested the resistance level multiple times, and the overall structure remains bullish. The hourly chart shows a strong upward trend, with quick rebounds after pullbacks. The middle band is a key support for the short-term bulls, and pullbacks are opportunities for trend-following long entries. Currently, the price is oscillating slightly higher with small bullish candles, with no clear signs of volume explosion. The short-term trend is unlikely to top out soon, and it is most likely to continue a slow, meandering upward pace, gradually rising based on key supports. Facing this pattern of step-by-step pullbacks and gradual gains, Brother Jing maintains a bullish outlook in the morning, and it’s best to follow the trend.
Trading Strategy
Buy Bitcoin around 71800, target near 74000
Buy Ethereum around 2100, target near 2230