Early Morning Analysis

Last night, Bitcoin dropped from 118500 to 117600, rebounding and adjusting after reaching the preset entry range.

The three lines of the Bollinger Bands on the hourly chart are converging, indicating a decrease in short-term volatility and a balance between buyers and sellers; the price quickly recovered after breaking below the middle line, solidifying support. The MACD is converging near the zero line, with low fluctuations in the energy bars; bearish momentum is weakening, but bullish strength has not yet emerged, resulting in a weak market consolidation.

Bitcoin can establish long positions in the range of 116500-117200, targeting 118500-119500;

Ethereum can establish long positions in the range of 3470-3510, targeting 3580-3620. $BTC #BTC☀