Analysis at 8.12 AM
Current observation of the market shows that after a three consecutive bearish trend in the four-hour timeframe, there are clear signs of a halt and reversal, with signs of warming emerging. The momentum of the market is significantly down, and multiple indicators are releasing positive signals. This suggests that the short-term market strength has limited power to rebound after a peak, and the overall trend still leans towards bearish, with the rebound appearing more like a normal correction in the upward process.
Looking at the one-hour timeframe, the market has shown a three consecutive bullish trend, gradually recovering lost ground. Although there is some selling pressure at the middle Bollinger Band, it has not changed the overall trend.
Suggestions
The major cryptocurrency can be traded around 119500-119000, targeting near 122000-121000.
The second cryptocurrency can be traded around 4300-4270, targeting near 4380-4450.
