Midday Thoughts

Reviewing the morning market, there hasn't been much fluctuation; it remains in a range-bound oscillation. Bitcoin rebounded to around 113500 and then fell back, while Ethereum also synchronized its rebound to the high point of 4167 before moving downward.

From a four-hour structure perspective, the three-wave pattern has reached its tail end, and bearish momentum has somewhat slowed down. Currently, it is essential to be vigilant about the breakout and stability of the range direction. On the hourly chart, the price has touched the lower bound and is showing convergence, forming narrow oscillations, with the bulls and bears alternating back and forth. The support below has been tested multiple times without any breakdown effect. Therefore, based on the smaller time frame patterns, it is recommended to focus on a buy strategy around the pullbacks in the afternoon.

Bitcoin: Buy in the range of 113700-113500, target around 115000

Ethereum: Buy in the range of 4170-4140, target around 4250.