Bitcoin and Ether Prices Consolidate at Higher Levels Amid US Holiday

The US market was closed on Monday for Labor Day, leading to a narrow range of fluctuations and consolidation at higher levels. Those who entered long positions in Bitcoin (BTC) between $79,000 and $78,500 should continue to hold their positions, while those who entered long positions in Ether (ETH) between $2,470 and $2,450 also have reason to remain optimistic.

The intraday strategy for this market is to buy on dips, as minor pullbacks may lead to significant profits. However, it's essential to be cautious of deeper wicks, which could result in losses.

The daily K chart closed with an inverted hammer bearish candle, indicating a possible trend reversal. The indicators suggest that the price has yet to fall, leading to a divergence between bulls and bears.

For today, traders should watch for support at the middle band of the daily K, around $78,500. If short-term longs break below $78,000, it's recommended not to hold and temporarily avoid the retracement.