After experiencing a strong surge last night, the market's bullish momentum has weakened, and it has overall entered a phase of consolidation and adjustment, mainly to digest the profit-taking pressure from the previous rapid rise.
From the hourly chart, the previous strong breakout above the upper Bollinger Band and departure from the channel has changed. Currently, the price is gradually returning to the Bollinger Band channel and slowly approaching the middle band.
This indicates that the market is digesting the pressure from the previous rapid increase, but it also means that a pullback may occur in the short term, although there are no signals indicating that bears have completely taken control.
Trading Suggestions
For Bitcoin, consider buying around 116200-115700, with a target of 117700-118500.
For Ethereum, consider buying around 4790-4780, with a target of 4850-4870.
