Reviewing the morning market, compared to the high point of 87925, it has strongly declined, dropping from the line of 86158 in the afternoon, and is currently in a technical recovery phase. The Ethereum market has shown the same pattern, with a pressure drop from the high point of 2973 in the morning, falling to the line of 2912 in the afternoon. Throughout the day, we have positioned long trades in Bitcoin and Ethereum, which are still in profit.
During the price correction process, the lower Bollinger Band continues to provide effective support, forming a clear support-rebound structure, with a preliminary confirmation of a short-term bottom. Although the overall trajectory of the Bollinger Band remains in a downward trend, the price has gradually moved away from the weak area of the lower band after rebounding from the lows, consistently approaching the middle band, indicating that buying power is strengthening, and the price center is steadily moving upward. From the hourly chart, although the market shows a pattern of both long and short fluctuations, the Bollinger Band has shifted from narrowing to opening up, which usually indicates that bullish momentum is accumulating, and the short-term trend is becoming positive. Analyzing multiple time frame signals, the current price is expected to continue the previous upward trend after a brief consolidation.
Bitcoin: Long positions around 86500, target focus on 88000
Ethereum: Long positions in the range of 2900-2930, target focus on 3050
