From the current market perspective, the daily level still maintains a wide range of oscillation pattern. After the larger cycle fell from the previous high, the coin price has always been operating in a low-level large box range, with insufficient continuation. In the four-hour chart, four consecutive K-lines all have long lower shadows, which clearly indicates that the support strength below is very strong. However, the key resistance level of 88500 has not been effectively broken.
At the hourly level, the Bollinger Bands are narrowing and the trend is tending to flatten, while the MA moving averages still maintain a bullish arrangement. However, the MACD volume is continuously shrinking, indicating that there is pressure for a pullback in the short-term market.
Currently, the market shows two significant characteristics. One is that after continuous rises, the support level is gradually moving up, compressing the oscillation space. The second is that from a technical perspective, the bears seem to have a certain advantage, but the dense support zone below limits the extent of the pullback. The game between the bulls and bears at the high level will continue.
Morning operation suggestions continue to adopt a high short strategy.
Bitcoin: Range of 88500-89000, target 87500
Ethereum: Range of 1600-1620, target 1560
