Wednesday, Bitcoin retraces to confirm support, rebounds from the bottom, still bullish!

Yesterday, after we set up the wave position and took profit of over 5800 points, we continued to suggest a long position at the current price in the morning. In real trading, the short-term position quickly realized a space of 1000 points. Subsequently, the price entered a consolidation phase, and from afternoon to evening, we continued to suggest a retracement to catch the wave. After Bitcoin dipped to the 81900 line to confirm support, it stopped, and the ten-pole once again followed the bullish position to capture over 1300 points before exiting. Currently, the price is running around the 83700 line, and if the short-term rebound does not break, there will still be adjustment actions.

Currently, in terms of trends, Bitcoin's white pole continued to rise and then underwent a retracement adjustment, just as we mentioned earlier, stopping near the 92000 position. Bitcoin was unable to maintain yesterday's sharp upward trend today, but it did refresh the high point. Currently, in the short term, the 4-hour price is encountering certain resistance around the 95000 line, forming a short-term high point, while the support below still focuses on the MA120 daily moving average and the area around 92000. As for Ethereum, the trend is basically consistent with the analysis in the afternoon article, with prices forming a short-term resistance level at the MA256 daily moving average on the 4-hour level. If it cannot stabilize above 1800, there will also be a retracement adjustment in the short term. Therefore, in the midnight strategy, if the rebound does not break, short once and continue to watch for adjustments, touching the key support to stop before continuing to enter bullish positions to refresh the high point.

On Wednesday midnight, Bitcoin rebounded in the 94500-95000 region, short once, and still focus on the area around 92000, stopping before going long again. For Ethereum, refer to the 1830-1850 region to short once, watching for a retracement adjustment in the 1700-1730 area, stopping before synchronously entering bullish positions to continue refreshing the high point!