Bitcoin and Ethereum 4H Analysis: Opportunities Amidst Volatility, Wait for Clear Signals!Bitcoin surged upwards again last night, reaching a high of $68,400. It is currently consolidating in the flag's upper boundary area
Bitcoin and Ethereum 4H Analysis: Opportunities Amidst Volatility, Wait for Clear Signals!
Bitcoin surged upwards again last night, reaching a high of $68,400. It is currently consolidating in the flag's upper boundary area. While recent candle closes are not ideal, the lack of significant volume increase doesn't rule out the possibility of testing the $69,500 resistance area again. Bitcoin has gained about 16 points from the bottom to its current position. Currently, it is at a key resistance level. Even if it retests the upper resistance, there is only about 2 points of upside potential. Therefore, it is advisable to wait and see for a clear pullback signal before taking any action with Bitcoin at its current position.
Ethereum is also currently below its downtrend line and consolidating in the area. In line with yesterday's view, Ethereum may attempt to retest the upper resistance again as volume hasn't increased yet. However, it is important to note that the current position is already in the downtrend resistance area. For uncertain conditions, it is recommended to observe and wait.
Overall, both Bitcoin and Ethereum are currently in consolidation phases, potentially leading to some short-term volatility. It is crucial for investors to be patient and wait for clear signals. It is recommended to closely monitor market changes and make investment decisions based on individual circumstances.
Please note that the above analysis is for reference only and does not constitute any investment advice.
Bitcoin 4H Chart:
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Ethereum 4H Chart:
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