Here comes the mentality of enduring again, whether to go up or down, friends, are you feeling a bit anxious? The midnight market performance is once again showcasing a tug-of-war, first a rebound that pushed Bitcoin to the vicinity of 104500, and Ethereum to around 3480, before facing pressure and slowly retreating. Market sentiment is still in a testing phase and is not very stable, increasing the risk of a second downward plunge. However, often at such times, we should be firm in our thoughts and not lose our composure. In the recent market conditions, the panicked are selling off, while the savvy are buying the dip, which is the charm of the cryptocurrency world.
Currently, after a slow decline, the downward continuation is weak, and after a brief correction, it rebounds again. The bearish momentum is obviously insufficient in the short term. From the four-hour level, after the market rebound, it briefly tested below the middle band of the Bollinger Bands, closely near the pressure zone of the middle band, and the K-line faced resistance and slightly fell back — this is partly due to the strong downward pressure previously, and on the other hand, there is an inherent testing pullback during the market's upward movement, mixed with a certain degree of short-selling enticement. At the hourly level, the current price is operating in the upper band area of the Bollinger Bands, after a previous spike to the upper edge of the band faced short-term resistance and retreated for correction, the short-term pressure is limited, and the bullish momentum still needs time to consolidate and gather strength. Future layouts need to focus on the extent of the market's pullback, waiting for stabilization before following up on the continuation of rebound opportunities.
Bitcoin range 103000-102500 long Target 105000
Ethereum range 3360-3330 long Target 3500
