Bitcoin, Ethereum Prices Unravel Amid Technical Indicators Chaos

Bitcoin is rebounding, currently priced at $78,700. However, Liying advises against rushing into long positions due to unclear direction and tangled technical indicators.

The EMA system shows short- and medium-term costs aligning, with the price above the EMA120 indicator, a positive medium-term signal. The MACD DIF line is crossing above DEA, indicating bearish momentum fading and bulls building strength.

Bollinger Bands show the price breaking through the middle band at $77,564 and testing upper band resistance at $78,963. A stable hold of the middle band and break through the upper band would confirm the rebound trend continuation.

For long positions, Liying recommends a 'pyramiding entry + scaling in' strategy with an initial position at $78,700 and 20% allocation, adding 30% if it pulls back to $77,800-$78,000. Three target levels are set: $79,500; $80,500; and $82,000.

Ethereum is currently at $2,610, having previously been stuck in the $2,400-$2,500 range for nearly two weeks. A strong bullish candle shot up to $2,612, signaling a potential major move or bull trap. The technical picture supports further upside but high-level volatility is possible.