From the 4-hour chart, the short-term trend has gradually turned bullish. Previously, when the price fell to around 98888, we saw the formation of a "double bottom" and a "bullish engulfing pattern," while trading volume increased, effectively stopping the downward momentum. This position coincided with the lower Bollinger Band, providing support and further confirming the short-term bottom.
Since then, the market has not broken below the previous low; instead, the lows have been gradually rising, with significantly more bullish candles. Although the price retraced after bouncing up to around 104500 due to resistance, the larger cycle is still in a corrective trend. However, it has now stabilized above 103000. If the short-term trend wants to continue moving upwards, it may still need to pull back for consolidation to accumulate more upward momentum.
Trading suggestions:
For Bitcoin, focus on buying around 103000-102000, with a target of 104500-105500.
For Ethereum, focus on buying around 3370-3350, with a target of 3430-3470.
