There are no wasted paths on the road of trading; every review and every perseverance is paving the way for the next profit! Yesterday's early market saw a decline followed by a rise, with Bitcoin dipping near the 85000 level, stabilizing after the drop. Supported by news of interest rate hikes in Japan, market bullish sentiment quickly warmed up, with prices briefly reaching the critical resistance level of 89500 before retreating. During the US market session, the recent trend of 'Asian session highs, US session pullbacks' continued, with a return to the 87000 line stabilizing again in the early hours, maintaining an overall range-bound pattern without a clear breakout direction. The bullish perspective provided by Lao Tang at midnight yesterday was perfectly validated.
From a daily perspective, the price action presents a clear horizontal consolidation pattern, with neither bulls nor bears releasing any clear breakout signals for now. After a pullback to the middle track of the Bollinger Bands, prices once again faced pressure and retreated, maintaining the pattern of range trading, waiting for clear directional signals to emerge. On the four-hour chart, the K-line has recovered previous losses and is overall operating within the upper middle track of the Bollinger Bands, with signs of bottoming out emerging; however, each time it touches the upper critical resistance level, it faces pressure and retreats, so the effectiveness of breaking this resistance should be closely monitored. Additionally, with the weekend market atmosphere trending towards light trading, the market is likely to continue its consolidation pattern, and it is recommended to focus on buying at lower levels.
Buy Bitcoin near 87500, target 89000
Buy Ethereum near 2930, target 3050$BTC
