Wednesday Morning Personal Sharing

Yesterday, Bitcoin strongly broke through the 88,000 mark, quickly falling back after reaching a new high of 88,500, and finally closing near 87,100. Following closely, Ethereum also experienced more extreme fluctuations. The frequent occurrence of spikes recently indicates that larger volatility may be ahead.

From a technical perspective, the 4-hour chart shows a V-shaped reversal trend, with both sides engaging in a tug-of-war. The upper resistance at 89,000 poses significant difficulty for a breakout. On the hourly chart, it is constrained by the pressure from the 4-hour line, and it is expected to continue oscillating within the 87,000-89,000 range. It is suggested to consider trading above the support level of 87,000.

Bitcoin is trading around 87,500, with a target of around 86,000-85,000.