Bitcoin's current large-timeframe bullish trend continues to strengthen. After the price dipped to 61113 to complete a short-term shakeout, a high-volume long bullish candle directly broke through the Bollinger upper band at 61948, surged to 62386 to refresh a recent high, and the Bollinger channel expanded sharply upward, fully opening up the upside space. ​

During the rally, massive long bullish candles appeared, with new capital entering to boost the bulls. The previous pullback saw shrinking volume throughout, with weak short-side selling pressure, making it a healthy shakeout in the uptrend. The main bulls' positions are firmly locked. The immediate resistance above is the recent high of 62386; if it firmly holds above that level, a new round of upside space will open up. The Bollinger upper band at 61948 has turned from resistance into strong support. The first support is the Bollinger upper band at 61948, secondary support is the middle band at 61636, and strong support is the lower band at 61325. As long as the middle band is not effectively broken, the bullish trend will not change. ​

The subsequent small pullback after the surge is merely short-term profit-taking, which is a normal retest confirmation after breaking the upper band. In the short term, it will maintain a high-level oscillating and slightly bullish operation. A pullback to the 61948-62000 range is a buying opportunity. If it breaks and holds above 62386 with volume, the bullish momentum will continue, and the downside space is locked by multiple supports.

Friday evening swing trading ideas

Bitcoin around 61600, go long, target 63000

Ethereum around 1710, go long, target 1800 ​