Good morning everyone, I am Gu Yue. Generally, there is no market activity on weekends, but when there is, it is unusual. The daily chart has shown four consecutive bearish candles, with Bitcoin once again falling below $100,000 and Ethereum dropping to $2,100. Currently, at nearly 6 AM, Bitcoin is stabilizing around $99,000, while Ethereum is stabilizing around $2,180. The hourly chart is currently in a consolidation pattern, with Bitcoin's support at $98,800 and Ethereum's support at $2,170. If the morning support holds, a rebound is inevitable during the day, and I am more optimistic about a bullish counterattack in the morning.

Technical Analysis

From the hourly and four-hour candlestick charts, the price is running around the lower Bollinger Band, and there has not been a substantial breakthrough at the bottom. It currently looks more like a bottoming process. This kind of consolidation will continue for a while in the morning, and the bullish counterattack will not come so quickly. We need to wait for the market to repair itself before forming a bottom and then stretching. Whether it goes up or down, a process is required, unlike a washout market that catches people off guard. The current trend still has traces to follow, which makes us more confident in our trading.

Trading Suggestions

Go long on Bitcoin at $98,500-$98,800 with a target of $100,000.

Go long on Ethereum in the range of $2,150-$2,180 with a target of $2,280.

There are many types of investments, and it is important to choose the one that suits you. There are many paths, and it is crucial to choose the right guide. I am Gu Yue, interpreting world economic news, analyzing global investment trends, and providing daily market analysis to offer you the latest trading strategy ideas and professional investment consulting services to help you reach the peak of financial management.

This article only represents personal views and is for reference only. It should not be used as a basis for actual operations. Market conditions are unpredictable, and profits and losses are at your own risk. For the latest trading strategies, follow the public account: Gu Yue KOL.

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