Reviewing the early morning market can be described as a significant drop, a thought away from heaven and a thought away from hell, catching people off guard. After a substantial rise, the market also saw a pullback, with a step-like retracement to the low point around 108000 in the early morning. However, the strong resistance point below has shown strong pressure resistance, and the bearish trend has not seen a better breakthrough. Ethereum has retraced to the current level in a quite unreasonable manner, forming a support zone at the current level.
From the four-hour level, the Bitcoin candlestick is in the upper Bollinger Bands area, with the middle band showing strong pressure resistance. The short-term breakout in the early morning was quickly recovered, and the bearish trend has not been sustained. In the morning layout, we still enter with a long position, since the bearish trend has not been sustained, it proves that the bullish trend is still the current market leader. Just make sure to keep your defenses up.
Bitcoin near 108000 long Target 109500
Ethereum near 2750 long Target 2850
