The script is probably written like this, going in circles, and the market has once again returned to the starting point. From this week, the rally point is around 64,000. This week's pattern has been full of twists and turns; whether it’s rising or falling, it always just misses breaking through. On Monday, the market strongly stretched upward, reaching around 67,200, with Ethereum following up around 1,845, which was the highlight of the week and also the highest rebound level. Subsequently, the market oscillated at high levels. Stimulated by Federal Reserve meeting news, market bearish sentiment appeared frequently, and the support at 64,500 was unable to make a move. The market then plunged again, with the lowest point around 62,200. But the continuation was still somewhat disappointing, and a rebound trend formed again. Bitcoin also successfully tested the previous acceleration breakdown level this morning.
In terms of real trading layout, it mainly revolves around a bullish strategy. During Thursday’s breakdown and decline phase, after a small stop-loss, I re-entered with a bottom-fishing long position, buying Bitcoin around 62,500, and Ethereum around 1,680. Currently, I am still holding these positions normally.
At present, the short-term market is in a retracement and recovery pattern, with overall market sentiment entering a consolidation and buildup phase. On the weekly chart, after probing the lower band, the market rebounded from the bottom. The bottom even shows a small double-pin bottom pattern, forming a double support effect. The previous Bollinger Band closure pattern has been broken, and market momentum is gradually warming up. A major rally is about to begin. On the daily chart, the market is gradually stabilizing around the middle band, with a very clear pattern of three bands closing in, indicating stable long positions and testing the upper resistance. The trend in the near future is clearly bullish. Considering the recent acceleration of US-China negotiations and high market sentiment, the bullish positions remain unchanged.
Bitcoin in the 64,000-63,500 range, target 67,000, with a breakout aiming for 70,000.
Ethereum in the 1,710-1,680 range, target 1,850, with a breakout aiming for 2,000.
#我的Gate交易时刻 $BTC $ETH