Good morning everyone! The market trend in the early hours has not shown a sustained strong bullish momentum, but after a rise to the 106500 line, it has pulled back for correction, dipping to a low of 105200 before rebounding again. ETH, after a brief upward movement, dipped to a low of 2563 and rebounded just above 2600, with the overall fluctuation being larger compared to BTC.
Overall, looking at the market, after a surge, it has pulled back for correction, which is a common structure recently. On the daily chart, after breaking through the middle track, it did not linger for too long. The level around 106500 near the middle track still demonstrates a strong resistance effect. With the BOLL bag opening still narrowed, the fundamental news continues to have a significant impact, and the battle between bulls and bears is exceptionally fierce. In the structure of oscillating upward on the four-hour chart, there is a back-and-forth of bullish and bearish movements, making it difficult for both long positions and shorts to establish strong continuations. Especially after a large bullish candle, the bears' counterattack becomes more apparent, but it struggles to break through the previous lows. Throughout the day, the focus will still be on testing the upper highs, while the short-term strategy remains to continue with the layout of taking long positions at the lower levels, with limited capturing during the pullbacks. In the morning, BTC is referenced at 105500-105000 for long positions, looking at 107000; ETH is referenced around 2580 for long positions, looking at 2640.
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Good morning everyone! The market trend in the early hours has not shown a sustained strong bullish momentum, but after a rise to the 106500 line, it has pulled back for correction, dipping to a low of 105200 before rebounding again. ETH, after a brief upward movement, dipped to a low of 2563 and rebounded just above 2600, with the overall fluctuation being larger compared to BTC.
Overall, looking at the market, after a surge, it has pulled back for correction, which is a common structure recently. On the daily chart, after breaking through the middle track, it did not linger for too long. The level around 106500 near the middle track still demonstrates a strong resistance effect. With the BOLL bag opening still narrowed, the fundamental news continues to have a significant impact, and the battle between bulls and bears is exceptionally fierce.
In the structure of oscillating upward on the four-hour chart, there is a back-and-forth of bullish and bearish movements, making it difficult for both long positions and shorts to establish strong continuations. Especially after a large bullish candle, the bears' counterattack becomes more apparent, but it struggles to break through the previous lows. Throughout the day, the focus will still be on testing the upper highs, while the short-term strategy remains to continue with the layout of taking long positions at the lower levels, with limited capturing during the pullbacks.
In the morning, BTC is referenced at 105500-105000 for long positions, looking at 107000; ETH is referenced around 2580 for long positions, looking at 2640.