The current market focus still revolves around geopolitical conflicts and the Federal Reserve's interest rate meetings, with the long-short battle influenced by the escalation of geopolitical conflicts. Looking back at yesterday's market, Bitcoin rebounded to the 107727 resistance level at noon, but the price faced downward pressure all the way down, with bears breaking through continuously. At midnight, it touched the lowest point of 103300. Ethereum started to face pressure and fell back from the noon rebound high point of 2617, with bears also moving strongly, reaching a low of 2451 at midnight. In the morning yesterday, we aimed for a rebound strategy, with Bitcoin and Ethereum gaining 1300 points and 85 points respectively during the noon session. The afternoon rebound strategy did not have any hidden regrets for stop losses; Bitcoin stopped out at 800 points, and Ethereum at 50 points. Indeed, various recent news has had a significant impact on the market, changing the technical patterns. The gains and losses from a single trade do not represent much; we will look for opportunities to rebound later.
Market movements influenced by news have a characteristic: they are short, frequent, and fast, only affecting the trends of small cycles and not altering the final technical patterns. After gradual digestion, it will ultimately return to the technical aspects. After a strong downward movement characterized by three consecutive bearish candles on the 4-hour chart, it reached the lower bound and began to rebound. The market has once again entered a tug-of-war phase, with the low at 103300 and the rebound high at 105288. This range has formed a short-term consolidation cycle and started to move sideways. Today's operations can look for long entry opportunities as long as the midnight rebound low of 103300 is not broken. If the upper rebound high is not broken, then we will follow the short position.
Trading Suggestions:
In the morning on Wednesday, Bitcoin can be bought near 103700-104000, with the target first focusing on 105300-106000.
Ethereum can be bought near 2470, with the target first focusing on 2550.
