Wednesday Midnight Bitcoin Ethereum Market Analysis and Daily Summary
The evening market welcomed a correction, with bullish forces gradually emerging.
Bitcoin successfully rebounded from the key support level of 103300 during the day, quickly probing up to the high of 105500. Although there was a slight pullback, it is currently stabilizing around 104300, releasing positive signals. Ethereum also rebounded, with strong support at the 2500 level. After the price rebounded to 2550, it faced brief pressure and is now also consolidating around the 2500 area. The current market is generally in a healthy recovery phase, building momentum for potential upward movement. Missing out on such a profitable market can indeed affect one's mindset, but it is important to note that the establishment of a clear one-sided trend still requires more signal confirmation.
From the 4-hour chart of Bitcoin, the price top shows a three-consecutive bearish candle pattern, touching a low of 103300 before rebounding. In such market conditions, accurately grasping entry points is particularly crucial, and currently, it is more advisable to focus on a low-buy strategy. On the 1-hour chart, the price is building a small step-up structure, with its key low support level highly coinciding with the lower Bollinger band, jointly forming a solid support line below. This area has become a key watershed between bulls and bears. If the price can stabilize above the middle Bollinger band, it will effectively strengthen the short-term bullish trend, and the market is expected to rise further. Currently, bullish sentiment dominates the market, and it is recommended to focus on low buys during nighttime operations.
Trading Suggestions:
Bitcoin range 103000-103500, target 105500,
Ethereum range 2420-2450, target 2550.