People with faith walk with light; no matter how dark the road is, they can illuminate their path. Action is the best remedy for all problems, and taking profits is the best reward for followers. If profit is a ladder, those with their hands in their pockets cannot climb it, so when in profit, don’t rush to promote; communicate more. When in loss, don’t rush to blame; communicate more!
Hello everyone, I am trader Gege. Continuing from the last time, the short-term long positions for Bitcoin and Ethereum mentioned in last night's update were executed accurately (Bitcoin long at 103500, Ethereum long at 2460), and they reached their targets. The Federal Reserve has a rate decision meeting early this morning, and it is highly likely that they will maintain expectations and not lower interest rates for now. The Fed's spokesperson indicated that unless there are risks to prices related to S, they will prepare to lower interest rates this week. The current situation is that the Fed and Trump are blaming each other. In fact, these news events will not have a significant impact on the overall market structure; the market will quickly digest emotions, whether it’s the geopolitical conflicts in the Middle East or not. In the short term, do not expect a strong one-sided upward momentum; the higher-level technicals do not support it for now, with the focus on Q3-Q4.
The overall market is still within Gege's expectations; currently, the overall structure has not changed significantly, so the short-term view remains the same. Today, let’s briefly discuss the technical aspects. The daily chart for Bitcoin showed a bearish candlestick yesterday, which was expected. Currently, the candlestick is under pressure near the MA and the middle band. The key short-term support area to watch remains near MA60 and the lower band. If the daily chart cannot rebound above the 107500 level, then look for a pullback below that level.
The 4-hour chart has rebounded after multiple tests of support, and it is currently testing the resistance again, indicating that the short-term support at the 103000 level remains effective for now. The resistance area to watch above is near the middle band and MA60. For short-term trading, this area can be referenced, and a break would require a reassessment. The technical movements for Ethereum on the daily and 4-hour charts are similar to Bitcoin, so I won’t elaborate further. The overall structure still remains within a range, and you can continue to reference the upper and lower bounds. If a break occurs below, pay attention to the 2300 level, which is also near the MA60 on the daily chart.
Bitcoin: Long at 104200-103500, with a break at 102000-101500, looking for 2000-3000 USD. Short at 106000-106800, looking for 2000-3000 USD.
Ethereum: Long at 2480-2460, looking for 80-100 USD. Short at 2600-2640, looking for 100-120 USD.
The suggestions are for reference only; ensure proper risk control when entering the market, and manage your profit and stop-loss space accordingly. Specific strategies should be based on real-time conditions, and you can consult for more details.
Alright, friends, we’ll see you next time. I wish everyone success in their trading and smooth sailing in the crypto world! More real-time advice will be sent internally. Today’s brief update ends here. For more real-time advice on Bitcoin and Ethereum, find Gege.
Written by/ I am trader Gege, a friend willing to accompany you in your resurgence.
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