Bitcoin is currently in a high-level consolidation structure after a sharp rise. After a period of volume-driven upward movement, there has not been a continuous volume-driven downturn; instead, it has transitioned into a high-level consolidation, with the candlestick pattern showing small bodies and alternating upper and lower shadows. The price has consistently operated above the support zone established after the last upward move, indicating that the bulls have not retreated but are instead using time to exchange for space to digest short-term profit-taking. The lows continue to be raised, and the pullback is limited, with every downward push from the bears lacking continuity. Overall, this is a normal consolidation in a strong market, rather than a weakening.
Bitcoin 88300-87800 buy, target around 89500;
Ethereum 2980-2950 buy, target around 3060. #BTC #ETH $BTC
BTCUSDT
Perp
89,760
+1.31%
ETHUSDT
Perp
3,039.31
+1.44%