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In this recent market, it really has perfectly demonstrated the essence of being “torturously grinding.” Every round of sharp surges and sudden dips is driven by the news cycle wildly stoking the momentum; but once the market has digested the sentiment, the price seems like it’s been cast with a petrification spell, and it just consolidates in place. Even though US stocks closed lower last night, it still didn’t manage to break down into a sustained downtrend channel. In the blink of an eye, it’s already Friday again. Looking at the bigger picture right now, the main theme of choppy upside movement hasn’t actually changed. So, in terms of short-term trading, we still need to stay clear-headed and patient, waiting for pullbacks; the focus remains on going long on dips, and avoid chasing higher impulsively.
For BTC, watch support around 63,900. If it stabilizes, you can try a small long position. The first target above is the 65,000 level.
For ETH, pay attention to the follow-through strength around 1,850. After laying out long positions, first watch how it performs at 1,900.
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