Yesterday, Jiu Shen mentioned in the square that we could wait for the market to pull back before entering long positions. Now it seems that the market is following this idea; there was a pullback in the early morning, and at 3 o'clock, the price reached the entry range expected by Lao Wang, after which it began to rise, reaching around 107800, and then it pulled back again. I wonder if any friends followed Lao Wang's idea in the early morning; this opportunity was right at your doorstep. Friends who missed it should seize the chance now and stop guessing the bottom on their own, only to end up buying halfway up the mountain!
From a technical analysis perspective, the 15-minute chart shows an overall downtrend channel, with the coin price running closely along the lower Bollinger Band and a long lower shadow appearing. Looking at the MACD indicator, the red momentum bars are still increasing, and the fast and slow lines have formed a golden cross below the zero axis; the RSI indicator also shows an oversold signal. This indicates that short-term bearish forces are dominating the market, but we can consider opportunities for buying on dips.
From the hourly perspective, the coin price touched the middle Bollinger Band in the early morning before starting to fall back, and it is now running close to the lower Bollinger Band. The MACD and RSI indicators also show signals of bearish dominance in the market. Therefore, Lao Wang believes that there will be another wave of pullback in the short term, but the downside space is limited. We can continue with the idea from the early morning and look to enter long positions during the pullback.
Trading Suggestions:
Long Bitcoin in the range of 106500 - 107000, targeting 108000, with a key support level at 106000.
Long Ethereum in the range of 2420 - 2450, targeting 2520, with a key support level at 2400.
The price levels are time-sensitive, and there may be delays in posting, so please refer to real-time market conditions! If you want to know the analysis of other cryptocurrencies, feel free to message me privately or leave a comment. If you find the content useful, don't forget to like and support it. If you want to receive more real-time trading strategies daily, want to learn technical skills online, or need to get out of a position, you can follow the mentor's public account "Leige's Trading Diary." Moreover, the first ten friends who follow will receive a free strategy for getting out of positions; don't miss this opportunity!
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