From the daily trend, the price of the coin has consistently remained above the middle band of the Bollinger Bands. Although there was a decline for adjustment earlier, it did not shake the overall upward pattern at all, and it still maintains a rhythm of oscillating upwards. Currently, neither the bulls nor the bears can sustain their strength, but the overall direction is still primarily upward oscillation.
Switching to the 4-hour level, the price is now hovering around the middle band, frequently bouncing back and forth, but it is just at the support level of the rising trend line below. As long as this trend line holds, the short-term structure is still leaning towards bullish. However, it is important to watch whether it can break through the previous high of 96000. If this level cannot be surpassed, there is a high probability that it will continue to oscillate back and forth in the short term.
The key support area below is between 93500-92000, and previous corrections have not broken this range. Now the market's volatility has visibly narrowed, and it is estimated that it will continue to oscillate within a narrow range. In terms of operations, it is recommended to follow a range strategy, trying to buy low near the support level and appropriately reduce positions near the resistance level. If it cannot break the previous high for several consecutive days, be cautious of a possible retest to confirm the strength of the support.
Operation Suggestions
For Bitcoin, focus on buying around 94700-94500, targeting 96500.
For Ethereum, focus on buying around 1800-1780, targeting 1900
