Today is Saturday, April 12th. Due to the low volatility and poor liquidity over the weekend, the range is also very small, so both shorting at high positions and going long at low positions are possible.
However, from the perspective of the daily chart, the closing direction is clearly bullish, but the poor liquidity means that the increase may be relatively small. Therefore, we still have a low long market during the pullback. Where do we pull back to? Looking at the smaller time frames, the support level we need to see is still 81,300. Yesterday, it just pulled back to 81,300, and when it pulls back to 81,300 again, that will be our entry point for long positions.
If a head-and-shoulders bottom forms, we need to pay attention to two patterns. When the price oscillates in this area, the pattern must be symmetrical.
So, if it pulls back to 81,300 again, this market, if it breaks through, will open up space above.
The first resistance level above is currently 84,600, so 84,600 is the only running trajectory in this range. Once 84,600 is broken, the space above can open up. The target can also aim for 88,000. This is the current situation for Bitcoin, so we can go long on the pullback and also consider shorting above. Both high shorts and low longs are possible.
Now let's take a look at Ethereum. It has already broken through, which is clearly bullish. From the perspective of the daily chart, it is still bullish. The daily combination is 12 hours, and looking back at the hourly chart, it has already broken 1,580. The pullback is the position to go long. The first resistance level above is 1,630, the second resistance level is 1,680, and the third is 1,740. The first support level below can pull back to 1,580, and the second level is 1,550. These support levels are what we need to pay attention to, so both high shorts and low longs are possible.
If you find it difficult to determine the levels and patterns yourself, you can follow the public account: KK Strategy
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