The overall market in the afternoon saw a slight pullback after a morning surge in prices, with hopes of another rise, but the idea of a second surge was suppressed, leading to a downward trend. Bitcoin's price exhibited a stepwise decline, currently reaching a low of 110400. Ethereum strongly broke through the 2700 level in the afternoon, reaching a high of 2734, followed by a quick drop, and is now trading around 2660. The current market is continuously setting new historical highs, with intermittent pullbacks repeatedly testing the bottom support. Once the bottom is firm, the market may surge again. Given the overall current market conditions, unless there are significant negative news, if the bulls manage to gain effective volume, the rise could be rapid!

From the four-hour chart, after a technical correction earlier, the price has seen a small rebound, with the K-line's bullish candle successfully breaking through the upper Bollinger Band resistance. Although there has been some degree of pullback and consolidation, the bullish trend remains unchanged. The overall market is steadily operating within the upper-middle range. The Bollinger Band shows a horizontal downward movement. It is evident that the market has entered a typical box consolidation phase. Prices may oscillate and build strength above the middle band, with the afternoon strategy focusing on high selling and low buying as the main approach.

Operation Suggestions

Long Bitcoin at 110000-110300, target 112000

Long Ethereum around 2650, target 2730#比特币突破11万美元