From a short-term technical perspective, after a consecutive five bullish candles on the hourly chart, it has entered the overbought zone. The current price has shown a technical pullback, with the K-line currently positioned between the upper and middle bands of the Bollinger Bands. It is expected that the short-term adjustment will continue, with Bitcoin (BTC) likely to retrace to around 111000 to seek support, while Ethereum (ETH) may dip to around 4550 for stabilization. Going forward, it is crucial to pay attention to the effectiveness of the support at the middle band of the Bollinger Bands.
Trading Suggestions:
- BTC: Long position near 111000, target 113000
- ETH: Long position near 4550, target 4700
