4.9 Bitcoin tests support at the bottom, bears are weak, dip buying suggested
In the short term, due to the weak rebound strength, the price of Bitcoin may continue to operate along a downward trend. The likelihood of a rebound ending after a top formation is high; attention must be paid to the appearance of a hammer candlestick which may indicate a potential short-term reversal, but currently, the momentum is insufficient.
If the position focuses on whether the price can stabilize above the Bollinger Band's middle line at the level of 80224, it will determine whether to continue holding or reduce positions. If it breaks above the middle line, consider a tentative buy, targeting an upward move to 85231 or 88752; if it falls below 74457, consider stopping losses and exiting.
The K-line pattern of the spinning top typically appears when the market trend is unclear. In a bear market, the dark cloud cover pattern may indicate a reversal, while the belt hold line usually suggests a short-term trend reversal. Currently, the BOLL price is close to the lower Bollinger Band, indicating recent market weakness, but there is technical support near the lower band. Continue to watch for a possible rebound towards the middle line, and consider entering long positions on dips.
Buy Bitcoin at 76500-77000, targeting around 82000-88000. Stop loss at 75500.
Buy Ethereum at 1470-1520, targeting around 1750-2050. Stop loss at 1420.