The early morning market has once again completed its cycle. After a rapid rise during the night, Bitcoin's energy has been released, followed by a slight pullback to the low point around 115434. Our bearish outlook given in the early morning was also accurately hit. Due to relatively light trading over the weekend, the strength of the one-sided market may be limited.
From a structural perspective, Bitcoin is showing a three consecutive bullish candlestick pattern on the four-hour chart, rising to the upper Bollinger Band, with solid body candlesticks and clear upward space. The current momentum is based on stable support below, and short-term pullbacks are a normal market correction, accumulating energy for subsequent upward movement. The operation suggestion for the day remains to buy on pullbacks at low levels.
Operation ideas:
Bitcoin: Long positions in the range of 115500-115000, targeting around 117000
Ethereum: Long positions in the range of 4680-4650, targeting around 4800
