Looking back at Wednesday's Bitcoin market, the bears are making great strides, which is a normal washout action. Although it has caused panic in the short term, it conforms to the phased pattern of 'rally - washout - breakthrough.' A significant rebound will inevitably lead to a pullback adjustment. The same goes for Ethereum; the cryptocurrency market will not allow one side to remain strong indefinitely, and the market will not develop in a single form constantly, which is also the scheme of the market makers.
From the hourly level, it appears that Bitcoin will start to rebound after a significant pullback, having already broken through the middle band of the Bollinger Bands, with the K-line continuously rising, indicating that the upward trend is gradually becoming clearer.
In the early hours, we will continue to maintain a strategy of high selling and low buying for our long positions.
Bitcoin around 107,500 (aggressive traders may aim for a 300-point range) Target 109,500
Ethereum around 2,730 Target 2,850
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