Four-hour cycle observation:
Yesterday, the market during the Asian and European trading sessions showed a fierce tug-of-war between bulls and bears. Influenced by the release of non-farm data during the US trading session and a strong rally in US stocks, prices exhibited a significant upward movement.
However, after multiple failed attempts to break through the key resistance area, the market entered a technical retracement phase, with the current adjustment still within a reasonable technical correction range.
The technical analysis shows a top divergence pattern, with the KDJ indicator continuing to diverge downward after a high-level death cross. There is potential for further downward testing momentum during the day, and it is expected to continue the main tone of fluctuations. It is necessary to pay close attention to the risk of deep corrections triggered by indicator repairs, with the core support below focusing on the psychological level of 95000.
Operational suggestions:
For Bitcoin, consider going long around 96000, targeting 97800.
For Ethereum, consider going long around 1820, targeting 1870.
