There is no myth of getting rich overnight in the cryptocurrency world, but there is the truth that 'surviving means winning.' Those who endure the bear market's sediment, avoid the traps with caution, and control their emotions with restraint will eventually reap steady rewards that belong to them in a certain market cycle. I wish you can hold onto your original intention amidst the fluctuations, grasp the rhythm amidst the impatience, and slowly become wealthy, which is far more admirable than quickly going to zero. The midnight market passed by in a hurry, and the market fell back into a horizontal tug-of-war. Bitcoin is oscillating narrowly around 87500, while Ethereum is hovering around the 2940 point level.
From the current market perspective, after the price fell under pressure, it did not continue the downward trend but gradually rebounded, currently maintaining operation in the upper middle band of the Bollinger Bands. Although the bullish volume has shrunk, it still provides support for the price, presenting an overall oscillating consolidation pattern, with the operating channel gradually flattening out and the moving average system showing a crossing arrangement. It is expected that there will still be some oscillation adjustments in the short term, but overall it remains in the pullback accumulation phase of the bullish trend. Observing the four-hour level, the operating channel shows a downward converging pattern, and after the price touches the upper band with a corrective upward movement, it did not immediately fall back, indicating some resistance to declines. The volume shows a bullish pattern and continues to increase, with the moving average system curving upward, maintaining a synchronized upward trend. The small cycle's recovery upward trend is relatively steady, and the short-term box consolidation also reflects that the bearish pressure is limited, with the downward space gradually narrowing. In summary, the current market structure is still dominated by bullish oscillation, and it is suggested to consider placing long positions at low levels.
Operation Suggestions:
Bitcoin: around 87000, target 90000
Ethereum: around 2900, target 3200
