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Morning market analysis
Observing the hourly Bollinger Bands, the upper band continues to extend horizontally, indicating that there is strong resistance at 117500 in the short term, with momentum for price upward breakthroughs being consistently suppressed. Meanwhile, both the middle and lower bands show a slight downward trend, suggesting that the short-term market appears somewhat weak.
Now that Black Friday has passed, the market usually moves more steadily over the weekend. We might as well patiently wait for the market to stabilize and maintain our strategy of buying low.
The specific operational suggestions are as follows:
- Bitcoin: When the price is in the range of 115500 - 116000, choose to go long, with a target towards 117500.
- Ethereum: When the price is in the range of 3930 - 3960, consider going long, with a target set at 4000 - 4200.