After a long night, I hardly closed my eyes, keeping a close eye on the market dynamics. Throughout the night, the market fluctuated in a narrow range, with no significant rise or fall, just continuous sideways movement. This kind of market is both a test and a torment for us, because it is difficult to make clear directional decisions in such a market environment, and long periods of attention and waiting can easily consume one's energy and patience. Nevertheless, Mingjie remained vigilant, always ready to seize any potential opportunities, hoping to achieve some results in this protracted battle.
Scenarios like yesterday's are quite common when looking at historical candlestick charts. A large bullish candlestick on the first day is followed by a large bearish candlestick on the second day, and in the early morning, Mingjie suggested going long near 68200. The price retraced to around 68216, providing another precise entry opportunity, and then began to oscillate and rise, gaining over a thousand points of space. Yesterday, we had decent gains in both long and short positions in this kind of market, although there were one or two trades that were not so perfect, overall it was still good.
From the current structure, it seems that the retracement from last night has basically ended, and the next scenario is a phase of stabilization, correction, and rebound. Looking at the daily chart, the previous market has turned positive, but after yesterday's pullback, the candlestick still stands firmly above the 30-day moving average, without falling below this average. In the short term, there is still room for a rebound, so our morning strategy is to maintain a low long position.
BTC strategy: Go long near 68500, target near 69800 ETH strategy: Go long near 3460, target near 3550
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