Morning Thoughts


From a technical structure perspective, since the weekly and daily charts opened up upward space, the continuation strength remains relatively strong. Currently, we are in a correction phase. The more the correction, the more we should have confidence in the trend. The main reason is that the upward move was too large, so a correction and adjustment are quite normal.
In terms of the pattern, it has been replaced by horizontal time consolidation instead of the previous large retracements to confirm support. Therefore, to go long, one should either directly buy on dips or follow with small retracements. Waiting for a large pullback to buy is obviously unrealistic. This is also why many people haven't taken off.
Structurally, there are still no signs of a top. As I always say, don’t blindly guess the top. The tendency is still to continue higher after strong consolidation and correction. The direction is basically clear; what remains are the specific levels.
However, if there is no strong rebound during the early hours, then the buy points should be adjusted downward accordingly. After all, capturing the high and low points within the range offers greater space.
Following Lao Hu’s early thoughts, buying on dips and holding is not a big problem. The idea remains to follow with low dips for continuation.

Trading Suggestions
  Bitcoin 80,800–80,300 can be bought, target at 82,300, and the wave target at 84,000
  Ethereum 2,320–2,300 can be bought, target at 2,400
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