5.3 Morning Thoughts


  After continuous consolidation and buildup on Saturday, the bulls resumed their rally early Sunday morning, with Bitcoin directly surging near 79,100, and Ethereum rising around 2,340. As mentioned very clearly yesterday in the short term, a dip back to around 78,000 in Bitcoin is a good opportunity to buy for a thousand-point increase, and a dip to 2,280 in Ethereum is a good buy for 60 points. The rhythm and expectations are basically consistent. After the pullback to support on Thursday was confirmed, it rebounded all the way up, and over the weekend, the rebound continued, reclaiming previous losses, indicating that the support below is quite clear. This is not a sign of trend reversal but rather a correction pattern pullback. Going forward, the bullish trend is still expected to return.
  From a technical structure perspective, after continuous volume expansion on the daily chart, it has officially entered four consecutive bullish days, which looks quite full. This pattern still has considerable space above. The daily chart is reaching higher again; although each upward move is followed by a slight pullback, the space still indicates a strong correction method. Overall, the recovery pace is quite fast, and the short-term moving averages are still showing a bullish divergence. The bullish structure remains unchanged; minor pullbacks are just steps. On Sunday, just follow the trend and go long. Stick to simple actions, and don’t let small adjustments affect your trend judgment. Today, focus on continuing the breakout and going long.
  Trading Suggestions
  Buy near 78,200–77,700 in Bitcoin, target 79,500–80,000
  Buy near 2,300–2,270 in Ethereum, target 2,380–2,420
BTC0.8%
ETH0.97%
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