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Friday's market movement, to be honest, is quite interesting. Last night, there was another dip, touching around 95,100 before starting to rebound. The overall downward momentum wasn't very strong, which means the chances for the bears are indeed getting smaller and smaller.
From a technical perspective, Bitcoin's four-hour chart looks quite solid. After touching the middle band of the Bollinger Bands, the price rebounded. The middle band is playing an increasingly supportive role, and a small double-bottom pattern has formed at the lows, indicating that the bulls are still holding their ground at the bottom. Looking at the hourly chart, the rebound momentum is even stronger, and the MACD is about to form a new golden cross, confirming an upward trend.
Ethereum is also performing well. The bottom-building pattern is particularly prominent, with a W-shaped movement on the hourly chart. It is currently in the latter half of the rebound phase, with little resistance to short-term upward movement, and the bullish sentiment continues to strengthen.
Based on this situation, the trading strategy moving forward is to follow the trend and go long:
Buy around 95,500 for Bitcoin, with a target of 98,000
Buy around 3,310 for Ethereum, with a target of 3,450
Remember, the market won't move according to our expectations. Professional analysis skills are the key to lasting in the crypto space.