1.6BTC/ETH Market Outlook:

Bitcoin has been steadily rebounding, testing the previous high of 94,500, with a peak at 94,700 before pulling back. Currently, the price is oscillating around 93,700. The strategy remains unchanged this week: primarily look for long entries on dips to anticipate rebounds. Today, 94,500 will be tested again as a recent high, serving as a confidence point for the bears, a defensive level, and a key entry point for many short positions. The battle for lower prices will inevitably be intense, and this level also attracts many longs to sell. A pullback is normal, and repeated oscillations are expected. Everyone must have their own judgment! Yesterday, I wanted to go long at a low point but missed the entry. Fortunately, Ethereum reached 3140, providing an entry opportunity. As discussed in yesterday’s live session, we continue to look upward, with a plan to reduce positions and set stop-loss to protect profits!

Bitcoin daily K-line shows 5 consecutive bullish days, forming a rounded bottom. Currently, this is still just a rebound and not enough to signal a reversal. The overall trend remains bearish. Those without short positions can wait patiently or participate in some low-level longs. For those caught in short positions, risk management and forced liquidation are crucial. MACD bullish momentum continues to expand, MA5 accelerates upward, and the price remains within the upper band of the Bollinger Bands. There may be a pullback during the day, but no shorting is recommended. Focus on buying dips.

On the 4-hour and hourly charts, the indicators clearly show a retracement demand, but the price is reluctant to fall. This suggests a potential trap for short positions. MACD bullish momentum is decreasing, KDJ lines are converging and forming a death cross downward, and RSI, after reaching overbought levels, is turning downward. Support levels to watch are 92,700, 91,700, and 90,700. Consider accumulating longs around these levels. Resistance levels are 93,500, 94,500, and 95,500.

Ethereum daily K-line also shows 5 consecutive bullish days. Similar to Bitcoin, the main strategy is to buy on dips. Support levels are 3,180, 3,140, and 3,100. Entry points can be based on these levels. Resistance levels are 3,230, 3,300, and 3,350.

Winning depends on mindset; failure often results from temper. The excitement of trading lies in experience, and its essence is patience. Skilled traders do not trade frequently but target opportunities for a decisive strike. Most people focus on every profit, but only a few are profitable most of the time. When the opportunity arises, it can turn the tide instantly. $BTC