Morning Market Analysis
Last night, Bitcoin surged from 93,560, reaching a high of 94,517 this morning, while Ethereum performed weakly during the day, dipping in the early session and then consolidating at lower levels.
From a 4-hour perspective, Bitcoin reached the upper band of the Bollinger Bands before pulling back, oscillating around the middle band, with bulls and bears locked in a stalemate. Although the short-term trend appears slightly pressured, it has not formed a valid breakdown, and the larger cycle still maintains an upward trend.
Currently, it is near the middle band, where both sides are fiercely competing. Despite the short-term trend showing some fatigue, there has not been a clear sustained downward trend. Considering the comprehensive analysis from higher time frames, the overall market still maintains a strong pattern.
Short-term advice: light long positions, short at high levels!
Resistance Levels: 94,500-95,300u
Support Levels: 93,500-92,500u
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