On the 4-hour chart, there are four consecutive bullish candles with full bodies but with noticeable upper shadows, clearly indicating resistance above. Multiple attempts to break through the resistance have failed, and the market has shifted into a consolidation and correction mode.
The 1-hour Bollinger Bands are continuously converging, with the upper and lower bands moving downward in sync. During the rebound test of the upper band, trading volume diminishes. Without a volume breakout, it is highly likely that the market will enter a narrow range of consolidation in the short term.
More importantly: the small-rate hike has been confirmed, and the overall trend remains bullish.
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Friday Evening Jing Yi Trading Strategy Analysis
On the 4-hour chart, there are four consecutive bullish candles with full bodies but with noticeable upper shadows, clearly indicating resistance above. Multiple attempts to break through the resistance have failed, and the market has shifted into a consolidation and correction mode.
The 1-hour Bollinger Bands are continuously converging, with the upper and lower bands moving downward in sync. During the rebound test of the upper band, trading volume diminishes. Without a volume breakout, it is highly likely that the market will enter a narrow range of consolidation in the short term.
More importantly: the small-rate hike has been confirmed, and the overall trend remains bullish.
Trading Recommendations
Bitcoin (大饼): 87,300-87,900 buy, target 88,500-89,900, long-term target 92,000
Ethereum (二饼): 2,930-2,900 buy, target 3,000-3,100, long-term target 3,280