Looking back at yesterday's market, it showed a range-bound fluctuation pattern, with prices dipping to the 85000 line gaining support and stopping the decline. Boosted by news of Japan's interest rate hike, market bullish sentiment increased, and cryptocurrency prices rebounded strongly, once attacking the 89500 key resistance level before encountering obstacles and falling back. Entering the U.S. trading session, the trend continued the recent feature of 'Asian session rising, U.S. session retracing.' In the early morning, prices tested the 87000 area again and stabilized. Overall, it has not broken through the fluctuation range, and direction selection still needs to wait for signals. Yesterday at midnight, Yang Jie provided a bullish outlook that was perfectly validated.
Currently, the market is operating within a healthy consolidation cycle, with a clear sideways consolidation pattern on the daily level. Neither side has given a clear breakout signal, and prices faced resistance after rebounding from the middle band of the Bollinger Bands. Overall, it is in a range game phase, and direction selection still needs to wait for clear signal guidance. In the four-hour cycle, prices have reclaimed previous losses, with the operating range returning to the upper-middle band area of the Bollinger Bands, and signs of a bottom formation are beginning to show. However, after prices rose to the 89000 line, K-lines have all faced pressure and fell back in the form of long upper shadows, and the Bollinger Bands are in a narrowing and flattening state. In the future, attention should be paid to the key resistance level of 89500, where the lower edge of the upward channel resonates with the MA120 moving average. In summary, short-term operational strategies suggest focusing on building long positions supported by key support levels.
Bitcoin: Build long positions around 87000, target around 89500.
Ethereum: Build long positions between 2930-2950, target around 305.
