The market has been fluctuating near the lower Bollinger Band for the past few days and is now trying to push towards the middle band. The upper, middle, and lower lines of the Bollinger Band are becoming more parallel, indicating that the price is about to break, and there may be significant movement ahead.
Looking at the four-hour chart: This morning, the market broke through the middle band, and after pushing up, this middle band line has become a pretty stable support (it's not easy to break below), which indicates that the bullish momentum is slowly strengthening and gaining the upper hand.
Looking at the hourly chart: The price is currently hovering near the upper Bollinger Band, rising quite slowly. This kind of sluggish movement is quite common on weekends, so there's no need to be too surprised.
In the early morning, we mainly look for opportunities to go long. If the price rises and pressure increases, we sell a bit, and if it falls and support strengthens, we buy back, aiming for a high-sell low-buy strategy. Focus on 106500 as the key resistance above, and the critical support at 104500 below.
Operation suggestions
Bitcoin around 105000 target 106500
Ethereum around 2490 target 2550
