The intraday market breaks the previous strong bullish pattern, showing a continuous pullback trend. The Bitcoin price retraced to the support point around 103000, and during the day it pulled back nearly 3000 points. In contrast, the Ethereum pullback was relatively smaller, with a minimum retracement to around 3800 before stopping. In our real trading layout, we entered long positions near 105100 in the morning, but unfortunately, we hit our stop-loss level and suffered a loss of 500 points. Subsequently, in the afternoon, as the market continued to pull back to around 103200, we took the opportunity to enter during the pullback, and finally, in the evening, we waited for a rebound and secured over 1300 points. Then, at a high point, we also followed the trend to short at around 105300, accurately capturing over 2000 points in the early morning. One trade secured 210,000 oil, directly recovering previous losses. Ethereum also gained 60,000 oil, although we only captured over 40 points. Such market conditions are difficult to fully control, but the pullback is just a buildup of strength for the bulls. Whether trading long or managing stop-losses, it’s essential to find the right low points and continue to go long, acting in accordance with the trend.

In the evening, the pullback to the key support of 103000 did not break. The strength of the pullback mainly cleared some high-leverage positions but did not excessively liquidate the bulls. The pullback is mainly preparing for the interest rate cut later in the evening. From a structural perspective, the daily chart shows a small bearish candle pullback, with the lower shadow testing the bottom support, but there is no significant continuation of bears. The movement shows a rise with a lower shadow, and the key focus remains on the impact after the interest rate cut, with the possibility of recovering the bullish candle. On the four-hour chart, the market pulled back and broke the middle track support, with a long lower shadow emerging at the end of the trading session, indicating that the bottom exploration is basically over. In the short term, we will maintain a fluctuating mindset, with the evening being our main focus, while short-term trading during the day is sufficient.

Bitcoin can be bought at 103500-103000, targeting around 106000. Ethereum can be bought at 3835-3815, targeting around 3980. $BTC