Today's early market shows a strong upward trend, with bullish momentum dominating. Bitcoin's price has quickly climbed back above 97,000. However, it should be noted that although the market has performed strongly in the short term, it has not yet effectively broken through the key resistance level at 98,000.
From a technical analysis perspective, the daily level shows the market has been experiencing continuous small gains, with the middle band of the Bollinger Bands providing strong support, akin to a pillar supporting the price trend; on the four-hour chart, the Bollinger Bands channel is gradually narrowing, indicating that the market may enter a range-bound phase in the short term. It is worth noting that the current rebound strength has shown signs of weakening; such rapid surges in the market often come quickly and leave just as fast. If the price cannot break through and refresh the previous high, it is likely to enter a range-bound correction.
Investors are reminded to stay calm and not to chase high prices impulsively due to short-term increases. In terms of operational strategy, it is still recommended to focus on short positions, and be sure to set stop-loss orders to avoid holding onto losing positions. Pay close attention to the resistance at the 98,000 level; if the rebound cannot break through this position, the price may likely fall back again, so be cautious of the risks from chasing price increases and selling on dips.
Morning Suggestions
Bitcoin 97,500-98,000 range, look down to 95,000
Ethereum 1,850-1,870 range, look down to 1,770
