Good morning everyone. After the market rose to around 109000 in the early hours, it pulled back, touching the 108200 line before quickly rebounding to 109684. Subsequently, it pulled back again and is currently oscillating above 109000. The short positions laid out in the early hours have also captured nearly a thousand points of space. The altcoin rose to a high of 2607 and then pulled back, currently oscillating around 2580. Overall, the initial pullback followed by a rebound is within expectations.
From the overall market perspective, the easing of geopolitical conflicts and the easing of trade tariffs have injected a brief strong upward momentum into the market, but it is not sustained. As the fundamental news fades, it will gradually return to technical adjustments and repairs.
On the four-hour chart, after the price broke through the middle track, the pullback near the middle track encountered strong support again, but the upward movement did not strongly break through the upper track and quickly fell back, with the trend not without effect. At the same time, the three tracks are gradually becoming parallel, and the oscillation range is gradually increasing, which may lead to a situation of horizontal adjustment at key points. After the range converges again, a direction will be chosen. If it cannot strongly break out in the short term, the oscillating pattern will continue, and short-term layouts can involve high selling and low buying within the range.
In the morning, Bitcoin references around 109500, looking at 108500-108000; Ethereum references 2600-2580 short, looking at 2550-2530. $ETH
