Thursday early morning Bitcoin and Ethereum market analysis and daily summary
Currently, the overall market rhythm is relatively stable. After a series of significant movements in the previous period, the recent market has entered a phase of continuous sideways consolidation, with no significant breakthroughs in the intraday up and down ranges. However, it is important to note that the market will not maintain consolidation indefinitely, nor will it continue in a single direction. The recent continuous adjustments indicate that the upcoming change points may bring unexpected large movements. Only when the short pressure is fully released can the resistance for the subsequent bullish trend be reduced. Compared to the upward space, the current pullback still belongs to a corrective rhythm, and the overall structure has not changed.
In terms of technical structure, the weekly chart continues to maintain a series of bullish candles. After the correction in the early morning on the daily chart, a preliminary double-bottom structure is forming. One should not blindly follow the shorts due to a single pullback; the strength of the afternoon trend remains key. The smaller structure has formed a support platform around the 108500 level; subsequent operations can be based on a bullish layout above this position. After a short-term pullback, if the price quickly recovers and the rebound strength is strong, it is recommended to follow up on the pullback and take profits after breaking the high.
Wednesday evening trading suggestions:
Buy Bitcoin around 111300-111000, target near 113000;
Buy Ethereum around 4620-4600, target near 4700.
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