Selling pressure remains as strong as ever. Yesterday, price action was largely range-bound. After testing the bottom near 79,300 during the day, the market steadily moved upward in a choppy fashion. In the evening, it rebounded to around 80,800 before coming under renewed pressure. The price is now near 80,000, testing whether the upward momentum can continue. The long position near 79,500 that I previously mentioned yielded only about 1,000 points of upside. Given the current market pattern, our focus is on short-term trades; those taking swing positions should manage their position sizes carefully.
On the daily chart, the market has formed a double-pin-bar bottom, but the rebound has yet to gain momentum. Support at the bottom is gradually proving more stable, and market conditions are slowly improving. Overall, price action is focused on forming a base, recovering, and building momentum. In this pattern, the market may repeatedly retest support in the short term to strengthen it. So our strategy is to go long on pullbacks.
Bitcoin: long near 79,600; targets: 80,800 and 81,800
Ethereum: long near 2,310; targets: 2,350 and 2,410
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On the daily chart, the market has formed a double-pin-bar bottom, but the rebound has yet to gain momentum. Support at the bottom is gradually proving more stable, and market conditions are slowly improving. Overall, price action is focused on forming a base, recovering, and building momentum. In this pattern, the market may repeatedly retest support in the short term to strengthen it. So our strategy is to go long on pullbacks.
Bitcoin: long near 79,600; targets: 80,800 and 81,800
Ethereum: long near 2,310; targets: 2,350 and 2,410
#BitMine增持10452枚ETH $BTC #韩国考虑对加密交易所征教育税 $ETH
