In the world of cryptocurrency, there is no wealth that comes without effort; only those who continuously learn and enhance their understanding can stand firm in this field. Every market fluctuation is an opportunity for growth, and every decision is a test of one’s own understanding. Therefore, do not fear failure, do not shy away from challenges, and treat every setback as a stepping stone to success. Bitcoin's price has continued the upward trend of yesterday's oscillation, rebounding from the low point of 108600 and the 4308 line since early yesterday morning, reaching a maximum of 112300 and the 4631 line so far, showing a clear upward trend. Early in the morning, it faced resistance at the 112000 and 4630 line, which also recovered some losses. Currently, the market is moving sideways at a high level, especially focusing on whether it can break through the 4630 line again, while Bitcoin continues to focus on the resistance at the 112000 to 112500 line.
From a short-term perspective, on the hourly chart, the price has shown five consecutive rising candles in an overbought state and is now undergoing a correction. Currently, the K-line is positioned in the middle of the Bollinger upper and middle bands, suggesting that there will be a continuation of this short-term pullback. The expectation is that BTC will pull back to around 111000, while ETH will pull back to around 4550 to stop the decline. Moving forward, we need to closely monitor the position of the middle band of the Bollinger on the hourly chart.
Operation Suggestions
Bitcoin: Buy around 111000 Target: 113000
Ethereum: Buy around 4550 Target: 4700
