You may sometimes doubt your choices, feeling anxious as you watch the numbers in your account fluctuate. But please believe that every setback is a stepping stone to growth. Those who have succeeded in the cryptocurrency world are no exception; they have all experienced countless ups and downs before learning how to navigate the waves steadily. During the midnight period, Bitcoin rebounded from the previous low point of 117410, reaching a high of 119313. Subsequently, it faced pressure again in the early morning, with a significant decline. Ethereum's trend is highly correlated with Bitcoin, also displaying a pattern of pullback-rise-pullback, currently trading around the 4530 line. As for Ethereum, the evening session was also full of complaints from the consistent winners, and three orders resulted in losses, which was quite difficult to bear. However, this highlights the importance of strict stop-loss measures in actual trading, controlling losses; otherwise, there would be no place to cry. Friends who have incurred losses should not lose confidence; we will fight again.
From the hourly Bollinger Bands perspective, both the middle and lower bands are currently steeply sloping downward, indicating that bearish forces dominate in the short term, and the support level below is weakening as the indicators move downwards. However, the upper band is diverging upward, suggesting that the price volatility is expanding, and the divergence between the bullish and bearish sides in the market is beginning to intensify. This pattern of the lower band trending downwards while the upper band trends upwards shows that, although the short-term bearish pattern has not completely reversed, the selling pressure below has been alleviated after a rapid release. Particularly, when the price dropped to 117400 and quickly rebounded, it happened at the lower band position where technical buying stepped in, indicating that this area provides some support in the short term.
Operational suggestions:
Buy Bitcoin around 117600, target 119500
Buy Ethereum around 4490, target 4700
