The day’s market activity has basically concluded. After the evening's fundamental news was released, the market experienced a brief period of volatile adjustment, followed by a rise after the opening of the U.S. stock market. The price of Bitcoin rose to a high of 97865 before experiencing a pullback, but after touching the 97000 level, it did not break down. The evening strategy layout has seen some realization, benefiting both bulls and bears. Overall, the rise of Ethereum was not significant, and after reaching a high of 1853 in the evening, it underwent a pullback. Overall, people seem to be overreacting to the situation.
From the overall market perspective, the impact of the fundamentals was not as intense as expected; instead, there was a slight outbreak. There was no effective breakthrough of the upper pressure level, and after being pressured, it quickly pulled back. Currently, the market is maintaining a high-level volatile adjustment.
On the four-hour chart, the middle track has risen again, and the lower support level has been elevated, showing a trend of reaching a peak in the short term. The technical indicators have slowed down in their upward movement; after maintaining a high-level volatility in the short term, it is likely to test the 98000 level again, but it is difficult to achieve an effective breakthrough, leading to a weekend range-bound market.
On the hourly chart, the previous price comparison has broken through the upper track and is currently returning below it, with the bag mouth gradually narrowing from an outward expansion. The slight increase in volume indicates that the technical indicators are showing a downward turning trend, increasing downward pressure. After returning to the range-bound volatility, it’s advisable to sell high and buy low.
In the future, the short-term market reference for Bitcoin is around 97900, looking at 96000; for Ethereum, the reference is around 1870, looking at 1810.
