Pullbacks are often a way to build momentum for subsequent rallies, so there's really no need to over-analyze last night's downward adjustment. Many people see slight market fluctuations and follow the trend to change their strategy, which often results in a passive position. If you ask me, this kind of minor consolidation is nothing compared to a true bull market. If you're shaken by this small adjustment, it shows your understanding of the trend still needs some work.
So how do we view the current situation? During this period before the Lunar New Year, my main strategy is to maintain a bullish bias, using small pullbacks as opportunities to take short-term bearish positions as transitions. All of this is based on technical analysis of larger timeframes. Combined with the news side, whether it's the international geopolitical situation or the potential rate cuts from the Federal Reserve, they're basically supporting coin prices. So combining technicals and news, the probability of continued upward movement in the near term is quite high. Bulls, maintain your conviction and keep holding the long positions you built at lower levels. For long-term trading, you need to stay calm.
Specifically looking at technical indicators. On Bitcoin's daily chart, after oscillating at higher levels, there was a pullback, with a notable bearish candle indicating there's still selling pressure from above. On the hourly chart, price has gradually declined from above 93000 and is now in a consolidation phase after short-term rebound. The MACD hourly histogram continues to show negative values, with DIF and DEA diverging downward, showing relatively clear short-term bearish signals; on the daily level, MACD is also weakening and may be entering an adjustment cycle. The hourly RSI is around 46, not yet in oversold territory, but an overall weak pattern has formed; the daily RSI has fallen below 50 with declining momentum. From the moving average system, the hourly EMA7, EMA30, and EMA120 are in bearish alignment with price being held down by EMA7; on the daily chart, EMA7 has started turning downward and may continue to test the EMA30 support.
From an operational perspective, using 91000 as support, as long as this level doesn't break, we should still be looking to move higher afterward.
Bitcoin Trading Strategy: 1、Long between 91600-92400, stop loss below 90800, target at 93600-94400, if broken look toward 97300 nearby 2、Short between 95000-94200, stop loss above 95800, target at 93000-92200
Ethereum Trading Strategy: 1、Long between 3190-3230, stop loss below 3150, target is 3340-3380 2、Short between 3400-3360, stop loss above 3440, target is 3300-3250
Pullbacks are often a way to build momentum for subsequent rallies, so there's really no need to over-analyze last night's downward adjustment. Many people see slight market fluctuations and follow the trend to change their strategy, which often results in a passive position. If you ask me, this kind of minor consolidation is nothing compared to a true bull market. If you're shaken by this small adjustment, it shows your understanding of the trend still needs some work.
So how do we view the current situation? During this period before the Lunar New Year, my main strategy is to maintain a bullish bias, using small pullbacks as opportunities to take short-term bearish positions as transitions. All of this is based on technical analysis of larger timeframes. Combined with the news side, whether it's the international geopolitical situation or the potential rate cuts from the Federal Reserve, they're basically supporting coin prices. So combining technicals and news, the probability of continued upward movement in the near term is quite high. Bulls, maintain your conviction and keep holding the long positions you built at lower levels. For long-term trading, you need to stay calm.
Specifically looking at technical indicators. On Bitcoin's daily chart, after oscillating at higher levels, there was a pullback, with a notable bearish candle indicating there's still selling pressure from above. On the hourly chart, price has gradually declined from above 93000 and is now in a consolidation phase after short-term rebound. The MACD hourly histogram continues to show negative values, with DIF and DEA diverging downward, showing relatively clear short-term bearish signals; on the daily level, MACD is also weakening and may be entering an adjustment cycle. The hourly RSI is around 46, not yet in oversold territory, but an overall weak pattern has formed; the daily RSI has fallen below 50 with declining momentum. From the moving average system, the hourly EMA7, EMA30, and EMA120 are in bearish alignment with price being held down by EMA7; on the daily chart, EMA7 has started turning downward and may continue to test the EMA30 support.
From an operational perspective, using 91000 as support, as long as this level doesn't break, we should still be looking to move higher afterward.
Bitcoin Trading Strategy:
1、Long between 91600-92400, stop loss below 90800, target at 93600-94400, if broken look toward 97300 nearby
2、Short between 95000-94200, stop loss above 95800, target at 93000-92200
Ethereum Trading Strategy:
1、Long between 3190-3230, stop loss below 3150, target is 3340-3380
2、Short between 3400-3360, stop loss above 3440, target is 3300-3250