Looking back at the overall market of Bitcoin in the afternoon, it is in a range-bound state. After reaching a high of 107200, it retraced to a low of 106500 and then rebounded to the current level, indicating that 106500 has formed a strong resistance point. A rebound is an inevitable trend; after consolidating and gathering strength, Bitcoin will undoubtedly break through. This retracement has a certain degree of inducement to short positions. (The same applies to Ethereum)
From the four-hour level, the price is hovering near the upper Bollinger Band, and the middle and upper bands are on an upward trend, indicating that short-term market volatility is intensifying and the bullish dominance is continuously strengthening, with upward momentum being consistently released, thus reinforcing the continuity of the price trend. From the hourly level, the three Bollinger Bands are opening in a divergent form, and all three bands have an upward trend. For the evening layout, we will continue to maintain long positions. (The same applies to Ethereum; the market is not much different, and the bullish trend is very evident)
Bitcoin range of 106500-106000 long positions Target 107500
Ethereum range of 2600-2570 long positions Target 2750
