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Bitcoin at 74,500, Ethereum at 2020, long positions bottomed out; after reducing positions, still holding the remaining, just keep an eye on the breakout target.
Brothers who have already exited or closed their positions, you can wait for a pullback to around 76,500 before re-entering long positions on Bitcoin. I myself am also preparing to add some positions at this level. As for Ethereum, I won't open new longs for now. Yesterday, when Bitcoin was at 77,400, Ethereum was still at 2140. Today, Bitcoin surged to 77,600, but Ethereum is still at 2110. It’s really lagging behind a bit. When opening new longs, prioritize Bitcoin. Our Ethereum longs bottomed out at 2020, after taking profit on over 100 points, just hold the remaining and wait for a breakout.
Combining news and technical analysis, the geopolitical situation is easing. The US and Iran are expected to finalize the memorandum of understanding, and the market is optimistic, providing support for Bitcoin. Technically, Bitcoin’s 4-hour moving averages are turning upward, establishing a short-term bullish pattern. However, after a gap-up, there’s a high chance of a technical pullback; chasing the high is risky.
The 76,200-76,700 range is a perfect pullback confirmation point and also the support level of the middle band of the Bollinger Bands. Reaching around 76,500 to add to longs aligns well. Set the stop loss at 800 points. The first target is 78,200; if broken, then look at 79,200.
For high-position traps, stick to the previous levels:
Bitcoin short positions at 79,200-79,600, with a stop loss no more than 1,000 points. After entering the position, update and synchronize $BTC .
Ethereum, adjust the entry at 2,180-2,200 for short positions, with a stop loss no more than 45 points. After entering, update and notify $ETH .
So, continue holding the remaining bottom positions, wait to re-enter longs on Bitcoin when it pulls back, and temporarily observe Ethereum. For high levels, gradually add short positions in batches. Don’t get reckless with the rhythm!
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