On the road to pursuing our dreams, we may encounter various difficulties and challenges. But as long as we maintain firm belief and courage, we can overcome all difficulties and realize our dreams. Good morning. The midnight market shows a corrective pullback, descending from yesterday evening's high of 86443 to the current low of 83632, with a rhythmic downward trend. Ethereum has dropped from a high of 1660 to the current low of 1582. This pullback is not a sign of a bearish trend coming, but rather a normal corrective consolidation.
On the daily chart, it is still above the middle track, which acts as the dividing line between bulls and bears. Therefore, above this position, it remains a relatively strong trend, although the space has narrowed, leading to a rhythmic fluctuation cycle. On the 4-hour chart, it is under pressure at the upper track, forming a slight consecutive bearish trend. The Bollinger Bands have started to contract, and the price of the coin has dropped near the lower track, with the decline slowing down. For the future market, Old Peng still sees a bullish rebound.
Operational Suggestions
On Wednesday morning, Bitcoin can be bought around 83700, targeting 85500-86500.
Ethereum can be bought around 1590, targeting 1690.
