Qin Feng's Morning Thoughts

The four-hour chart shows that BTC quickly rebounded after hitting the middle track at the bottom, and the short positions are struggling to pull back, suggesting a potential trap for shorts. The subsequent focus should be on the pressure situation at the middle track, where one can increase positions accordingly. The hourly chart signals are clearer, with strong support at the lower track, a rapid rebound, and limited space for shorts to maneuver. Resistance is distributed in ranges, further strengthening the bullish trend.

BTC can be viewed as bullish around 118500-119000, with a target near 119800.

ETH can be viewed as bullish around 4250-4300, with a target near 4370. #btc