In the afternoon, Bitcoin welcomed a volatile upward trend, experiencing a slight pullback to 94800 before quickly rebounding. Currently, it has stabilized above 95000 in the short term, but it still hasn't made an effective attack on our previous high points, and those who were long in the range have exited early. The movement of Ethereum is similar to Bitcoin, having pulled back after touching 1820, with an overall minor pullback.
On the 40-line, after closing a solid bearish candle last night, a four-consecutive bullish wave emerged during the day. Although the bullish volume has somewhat decreased, the overall pullback strength is weak. Bitcoin briefly stabilized above 95000, and the key points for the subsequent struggle will revolve around this line. In terms of technical indicators, the KDJ three lines continue to rise, and the MACD is trending towards forming a golden cross, indicating that a certain transformation is required in the overall layout of the Silk Road.
On the hourly chart, there is currently a trend of reaching a peak, but under the circumstances of weak pullback strength, the trend of volatility is quite evident. However, with the bullish volume not significantly reducing, there is still good space above.
Considering that tonight is also the time for the outbreak of fundamental news, with various economic indicators or news being favorable, the market may show a pattern of initially rising and then correcting.
The follow-up strategy for Bitcoin is to look for light long positions near 95000, targeting 96000; for Ethereum, look for longs near 1810, targeting 1850, with any break needing to be followed for continuation.
