Wednesday Afternoon Bitcoin and Ethereum Market Analysis and Trading Suggestions
On Wednesday afternoon, Bitcoin first tested the 110867 position downward and then rebounded, reaching a high of 111700, once again breaking through the recent short-term high.
The short-term bulls are performing strongly, having completely recovered the previous downward adjustment. After another attempt to attack the high point, it faces pressure, forming a fluctuating cycle pattern within the day.
From the current market perspective, the price is in a strong consolidation phase of correction. The daily and weekly levels still have the momentum to break higher. Pay close attention to this brief pause and consolidation followed by an increase in volume—continuous consolidation typically does not exceed three cycles, leading to a directional decision. After the rise, the 4-hour level has entered a corrective consolidation; this type of retracement is essentially to accumulate momentum for the next bullish rally while also repairing technical indicators.
In the next two days, it is not ruled out that high-level fluctuations will continue. If there is a retracement, it will likely be a small pullback to confirm the trend. In the continued trend following a strong rise, trading should combine the intraday pattern to assess the strength of the correction. If the consolidation remains strong and then rises directly, timely adjustments to the long positions are necessary. Overall, the main idea remains to buy on dips.
Trading Suggestions:
Buy Bitcoin in the 111000-110500 range, targeting 113500;
Look for buying opportunities around Ethereum 4570-4550, targeting 4700.
Bitcoin stop-loss below 110300, Ethereum stop-loss below 4540
