Intraday market conditions have changed dramatically; the previously strong bullish pattern has been broken, and Bitcoin has entered a continuous retracement mode, dipping to a low near the critical support level of 87000 before stabilizing, with a retracement of nearly 2000 points. Ethereum's retracement has been relatively mild, dropping to around 2945 before stopping, with a retracement space of over 100 points.
From the market signals, Bitcoin did not continue its downward trend after breaking below 87000; instead, it has entered a consolidation correction range, which confirms that the support below is solid and effective! At this time, blindly shorting is tantamount to going against the trend, and it is by no means a wise move. Currently, the coin price is fluctuating narrowly around 87500, with the range compressed to an extremely tight state. The short-term moving averages are showing a tendency to flatten and adhere, suggesting that the short-term market will likely maintain a consolidation pattern. In smaller time frames, continuous oscillation and repair have gradually adjusted the technical patterns, and a short-term rebound window is opening. Under the repeated tug-of-war between bulls and bears, a one-sided market is hard to appear, and the optimal solution now is to buy on the dips.
Bitcoin: decisively set up long positions near 87000, targeting 89000!
Ethereum: look for opportunities to enter long positions around 2950, aiming for a target of 3100! $BTC
