Yesterday, the cryptocurrency market showed a rebound trend after reaching a low. Bitcoin fluctuated and rebounded from a low of $96,645 to a high of $97,888, currently retreating to around $97,100 for consolidation.
Ethereum also completed a V-shaped rebound from $1,823 to $1,871, with the current price stabilizing in the $1,850 area. The 'buying at low levels' strategy we insisted on last Friday has yielded significant results, leading our students to achieve over 2,000 points in profit during the day.
The current market has entered a narrow fluctuation pattern during the early hours, with the four-hour cycle showing typical trend reversal signals: the MACD indicator's fast and slow lines continue to converge, the momentum bars are close to the zero axis, and the RSI indicator remains horizontally at the 50 midpoint. The price has formed a dense trading area around the $97,000 mark.
Bullish defense line: $96,600 neckline position
Bearish barrier: $97,200 strong-weak boundary
There are two possible paths for the market: if it effectively stays above $97,200, it will open up upward space to $98,500; if it unexpectedly breaks below the $96,600 support, it may trigger a second bottoming trend.
The main body maintains a buy-on-dip approach, suggesting attention to layout opportunities in the $96,800-$97,000 range. It is particularly important to note: if the price shows signs of stagnation above $97,500, strategies should be adjusted promptly to respond to potential reversal risks. It is recommended to adopt a 'breakout following + key level defense' composite trading strategy, with strict dynamic stop-loss protection set at 80-150 points.
Trading suggestions
For Bitcoin, buy around $97,000, targeting $98,500-$98,000; if it breaks through, look for higher targets.
For Ethereum, buy around $1,820, targeting $1,900.
