Good morning everyone! Yesterday evening, the market did not experience a deeper decline, but instead, Bitcoin broke through key resistance levels during its rebound, showing a fluctuating upward trend, step by step, and after breaking through the previous high of 107292, it experienced a slight pullback. Ether, on the other hand, initially chose to break downward to a low of 2438 in the early morning and then continued to rise, currently back above 2500. Overall, Bitcoin has a stronger upward trend.
From the overall market perspective, Bitcoin experienced a fluctuating pullback during the day yesterday, and in the evening, while exploring the downside, it benefited from the strong support at 104000, and did not experience a deeper retracement afterward. On the four-hour chart, after breaking through the middle track, it did not linger too long; the momentum quickly picked up, closing with a solid bullish candlestick, breaking through the previous high, and the momentum appeared strong again. However, after the close, there were many cases of long shadows left, indicating that the struggle between bulls and bears is still quite intense for a certain period of time, and during the day, it will still seek opportunities for upward breakouts after adjusting in the high range.
On the hourly chart, the battle between bulls and bears has become more intense after breaking the high, but the extent of the pullback remains limited, and the short-term pullback has slowed the upward pace, indicating a clear short-term fluctuating market.
This morning, for Bitcoin, consider a light long position near 106500, targeting 108000; for Ether, consider a long position near 2510, targeting 2600.
