Yesterday, Bitcoin experienced a false breakout above 8.65, quickly falling back to around 8.3. At this position, there was a clear buying support, and it has not continued to decline, forming a small support level in the short term. Therefore, based on the recent market movements, we can roughly determine from the hourly Bollinger Bands that Bitcoin's consolidation pattern is quite evident and easy to operate. Following the consolidation trading strategy of buying low and selling high, it is advisable to keep a portion of the position for averaging down to prevent sharp price spikes.
In yesterday's analysis, reasonable trading suggestions were also provided, and the short positions were perfectly executed, with Bitcoin gaining over 2000 points, while Ethereum's synchronized operation also gained over 40 points.
From the K-line data, the effective actual operation is in the range of 8.3-8.6. The market strength this week has been relatively weak, mainly consolidating without significant fluctuations. The support at the bottom and the pressure above are both fully effective, and the market has not broken out of the consolidation box multiple times.
Ethereum also rose yesterday, peaking at 1660 before sharply retreating to around 1580, where there was significant effective support, preventing further declines. Therefore, when Bitcoin and Ethereum test the bottom again, we can consider entering long positions nearby for the first time.
4.16 Bitcoin Trading Strategy
Buy in batches at 8.25-8.35, stop loss at 8.15, target at 8.53-8.6. After making a profit on the long position, you can gradually build short positions at the target level.
Ethereum Trading Strategy
Buy in batches at 1550-1580, stop loss at 1530, target at 1630-1650. After making a profit on the long position, you can gradually build short positions at the target level.
【The above analysis and strategies are for reference only. Please bear the risks yourself. The article's review and publication may have delays, and the strategies may not be timely. Specific operations should follow the real-time strategies of Bitcoin Bear.】
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