Yesterday, Bitcoin showed strong upward momentum, steadily rising after experiencing market fluctuations. Even with a brief pullback in the early morning, it quickly regained its upward trajectory, re-establishing itself above the 90,000 mark, demonstrating short-term strength. However, as the price approached 90,900, the market encountered resistance.
The four-hour K-line chart displays a triangular convergence pattern, with the price retreating after touching the EMA trend line resistance at 91,000 and is currently testing the support level at 87,700. Due to the frequent occurrence of false breakouts in triangular convergence, be cautious before entering the market when facing pressure level breakouts or support level breakdowns; wait for a pullback confirmation before making a decision. Additionally, the MACD indicator shows a stepwise increase and divergence between the DIF and DEA lines, indicating that market momentum is gradually strengthening, making it more prudent to enter with low long positions.
Trading suggestions: (for reference only)
Buy Bitcoin at 89,300-89,700, target 93,000-95,000
Buy Ethereum at 2,210-2,240, target 2,360-2,500
