The weekly chart shows a long lower-shadow bearish candle that is quickly repaired. This is a bullish washout/shakeout, and the medium- to long-term uptrend remains intact. On the daily chart, the price dips back to support and forms a bullish engulfing, with consecutive advancing candles. There is currently no top signal.



The earlier pullback was only a short-term correction. The bottom support is solid, and the choppy, high-turnover trading helps to reinforce and solidify the base. As the market rises, it continues to wash out and digest selling pressure; pullbacks can be used to position at lower levels.

BTC: Buy on pullbacks around 63500-63000, target around 64600-66000.

ETH: Buy on pullbacks around 1780-1750, target around 1830-1880.
BTC0.69%
ETH0.54%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned