After the afternoon market retraced to the low level of 110351, there was a slight rebound that recovered some ground. There is a potential upward space of over a thousand points before another pullback. Given the current situation, both long and short positions are evenly matched. However, neither side has broken out convincingly. The bullish perspective we provided in the afternoon once again captured over 800 points on Bitcoin. Ethereum faced resistance after a midday surge and has now retraced. Currently, the price is back at the starting point from early morning. As long as one can grasp the situation well, there are opportunities for both long and short positions today, mainly depending on whether one can hold this key point.

The current situation is about trading time for space, with both long and short positions evenly matched. Looking at the 4-hour chart, the Bollinger Bands show a clear bullish arrangement, with the current price operating in the support area of the upper band. A breakthrough of the upper band’s pressure zone requires stronger bullish momentum. On the 1-hour chart, the Bollinger Bands have been narrowing and then quickly opening, with the price closely approaching the upper band. Although there are signs of a second round of upward movement in the afternoon, no breakthrough has been achieved. This indicates that the pressure above remains quite strong. Our overall trend remains bullish without change; in the evening, we will first pay attention to the strength of the pullback before engaging in low buy participation.

Operation Suggestions

Buy Bitcoin at 110300-110500. Target 11200

Buy Ethereum near 2620. Target 2720#BTC再创新高