A week of work has flown by, and I'm curious how everyone's trades have gone. Let me give a quick recap of intraday action. Bitcoin broke higher after the daily close this morning, and the price temporarily broke through the previously pressured 71000 level, continuing to probe up toward 72000 where it faced resistance. During the daytime session, after consolidating around 71000, the evening saw a second wave of volume expansion. Bitcoin broke above the 72000 mark, and the bulls pushed the price up to around 73800 before pulling back under pressure. Ethereum moved in line with Bitcoin—during the daytime session it was pressured at the 2150 level, then pulled back to test 2080 where it found support and bounced higher. In the evening, it reclaimed the 2200 mark under pressure. Today, after catching an early pullback and taking a stop-loss on one short position, as the market became clearer, we continued deploying long positions on pullbacks. Bitcoin locked in 2800 points of profit for the day, while Ethereum locked in 85 points.
From a daily chart structure perspective, the K-line has extended five consecutive bullish candles, pushing higher toward the upper band. The second attempt to break higher tested around 74000 before pulling back under pressure, currently printing a long upper shadow. The current second test of the 74000 level shows significant selling pressure overhead. Overall, the trend remains bullish, with the key focus on whether subsequent pullbacks break below critical support and form a double top pattern. Combining the 4-hour chart, Bitcoin formed a double bottom before breaking higher on volume, surpassing previous resistance levels. The second push higher on volume testing the critical 74000 resistance and pulling back is quite normal. Currently, the 72000-74000 high zone still lacks significant consolidation structure; even if it breaks above, there's downside risk. However, after pulling back from the highs to around 71000 where it held support and formed a reversal, there's potential for continued bullish momentum after consolidation. Trading-wise, we maintain our trend-following approach, continuing to add longs on pullbacks.
Bitcoin: Buy 71000-71500, targeting 74000. Ethereum: Buy 2100-2120, targeting 2200. $BTC $ETH