Bitcoin experienced a pullback after a surge in the morning and then entered a rather long period of sideways consolidation. During the retracement, it reached a low of 104200, and the current price is around 105000. The strategy we proposed in the morning to enter long positions after a pullback has been gradually implemented as planned, and we maintain an upward outlook. After the morning's fluctuations, it is normal for the pace to slow down a bit; now it is time to exchange time for space, and we just need to wait patiently.
The 104500 level has already established a strong support force. The midday pullback and consolidation have revolved around this level, which is why we selected it as an entry point in the morning.
Analyzing the four-hour chart, the momentum is still in an expanding state, with the price continuously moving upward along the upper Bollinger Band, and there is currently no obvious resistance above. Based on this market condition, we remain optimistic about the continuation of momentum in the afternoon and believe it has the potential to create new highs again.
Bitcoin: 104500 - 104800 range, target: 106000.
Ethereum: 3930 - 3950 range, target: 4020
