Good morning everyone! In the early hours today, the market continued the trend of fluctuating upward from yesterday, with Bitcoin rising from around 103500 to a high of 104949, and then subsequently retreating under pressure; the long positions in the early hours also reaped substantial profits. The altcoin continued the strong trend of the previous day, moving unilaterally upward to a recent high of 2738, and after retreating under pressure, maintained a high-level oscillation adjustment.
Overall, with the continued increase in volume, the recent short-term gains have erased most of the previous pullback space, but there is significant resistance above at the 105000 level in the short term.
On the four-hour chart, a V-shaped pattern has emerged, and after fluctuating around the lower track, there has been a sustained breakout above the previous highs, with bullish candles closing without long upper shadows, indicating strong momentum. However, the resistance at the upper edge has not turned upward, making it difficult for the momentum to exhibit stronger continuity.
On the hourly chart, after breaking upward, there has been a pullback, and technical indicators have also turned fully downward, adding short-term downward pressure; however, the lower track is rising, and signs of a stop in decline are evident, which will not provide much room for further pullbacks.
In the morning, consider going long around 103500 for Bitcoin, targeting 105000; for the altcoin, consider going long around 2670, targeting 2750.
