In the waves of rise and fall in the cryptocurrency world, there is no forever smooth path, but there are persistent pioneers. The frenzy of the bull market tests restraint, the gloom of the bear market tempers patience, and the core of traversing bulls and bears has never been about precise timing but about safeguarding the bottom line of capital and adhering to value. However, the strong upward trend currently presented on the market remains solid. The recent rapid surge in the four-hour timeframe not only verified the strength of the lower support but also fully demonstrated the bullish explosive power and willingness to push prices higher. Although prices have pulled back after breaking through, this can be seen more as a healthy consolidation and a chip exchange after reaching new highs, providing an opportunity for further upward momentum. From a structural perspective, although prices briefly broke through the upper Bollinger Band and then returned to the channel, this action effectively widened the overall running space, which is a common technical consolidation in the process of trend continuation. The expansion of the Bollinger Band channel is a positive signal indicating increased market activity and volatility, suggesting that the upward momentum has not faded. Currently, prices are running above the middle track, and the overall upward channel remains intact. The long upper shadow of the candlestick reflects the pressure from the earlier profit-taking, but more importantly, it reveals a strong willingness for prices to test upward and the market's continuously rising bullish expectations. This proactive testing often accumulates strength for subsequent effective breakthroughs. Observing the details of the market, this pullback is a healthy adjustment aimed at digesting short-term technical pressure and solidifying the upward foundation. The key support area below is solid, and during the pullback, the trading volume has not shown any abnormal expansion, indicating that the overall bullish sentiment in the market has not fundamentally changed. After sufficient consolidation, the bulls are expected to regain momentum and push the market to regain its upward trend.
In summary, the current market is in a phase of consolidation within an upward trend. In terms of operation, it is advisable to maintain a bullish outlook, suggesting attention to stabilization signals in key support areas during pullbacks, and to seize opportunities for gradual positioning of long positions at lower prices, in line with the main upward trend of the market.
Operational suggestions:
Large pancake: around 88500, target at 91000
Second pancake: around 2980, target at 3300
