In the early hours of today, the price of Bitcoin surged strongly, reaching a high of 97,350 at a critical point. The intensity of this bullish outbreak far exceeded expectations. With precise judgment of market sentiment, we decisively positioned short orders at high levels, successfully seizing the opportunity for a pullback. The market quickly retreated, with the price dropping to a low of 96,100. Moreover, our pre-established bearish strategy aimed at 96,000 as the target point also successfully reached the take-profit zone. Although this round of bulls is unstoppable, the pullback is inevitable due to the dual effects of overbought conditions and profit-taking. As of now, the price stabilizes around 96,500.

From the daily trend, the price continues to operate near the upper Bollinger Band, showcasing a strong upward trend. Despite some level of pullback earlier, the overall strong pattern remains unbroken, and the upward trend is still solid. Recently, there have been consecutive bullish closes, successfully recovering lost ground, with lows gradually rising, demonstrating strong short-term rebound momentum. In particular, a single large bullish candle directly pushed the price to a high level, indicating that the upward trend is likely to continue in the short term. In the 4-hour chart, the sustained price increase has significantly widened the upper Bollinger Band, indicating that upward momentum in the market is continuously strengthening. At the same time, the price firmly stands above the middle Bollinger Band, with significant support provided by the mid-band, offering strong support for price increases. The price breaking above the upper band further expands the upward space, creating favorable conditions for subsequent rises. In conjunction with the 1-hour level, the price has completed a pullback to the middle Bollinger Band, where the mid-band support is effectively at work. Currently, bullish forces dominate and continue to exert pressure, making it highly likely that the market will initiate another upward attack. From the current technical formation, the price is expected to break through previous highs and achieve a new high trend.

Bitcoin can be bought in the range of 96,300-96,600, looking towards the 100,000 mark. Ethereum can be bought in the range of 1,800-1,825, looking towards around 1,920. #加密市场反弹