Morning Silk Road

Last night, the overnight cryptocurrency price surged strongly, reaching the resistance level at 84700, followed by a slight pullback. Currently, Bitcoin is experiencing a downward correction after reaching a peak. The price is alternating between small upward and small downward movements, but overall, it is gradually trending higher. Bitcoin's price is now operating around 84000. On the Ethereum side, the price surged strongly last night, peaking around 1950 before facing resistance, and is now showing a slight downward trend.

Currently, there is no need for much discussion; the daily chart remains in a downward pressure state, currently operating near the middle band. On the four-hour chart, the price is close to the upper-middle band, and the long lower shadow indicates support at this level, which may show signs of a rebound or consolidation. The hourly chart is tightening again, suggesting a stalemate between bulls and bears, with two previous dips proving to be false breaks without substantial breakthroughs, indicating that support below is still strong. In the short term, the price is again under downward pressure, and in the morning, we will primarily focus on buying on the pullback.

Trading Suggestions

Buy Bitcoin at 83200-83600 with a target of around 85000-85500

Buy Ethereum around 1900 with a target of around 1950-1970 #BTC☀