$BTC 11.24 Morning Thoughts and Suggestions
Since yesterday, the market has started to recover, with Bitcoin rising around 4000 points from the vicinity of 84000. This rebound trend is quite significant. As for whether this is a signal for a reversal, it remains to be seen. Friends, don't rush; let's take it step by step and first see if the position around 90000 can be broken through and return above. If there are friends who are trapped in positions, don't worry; there may still be opportunities to break free, and Zhang will do his best to help you.
On the 1-hour chart, Bitcoin has been continuously rising from a low of around 83500, currently approaching the vicinity of 88100. The K-line is strongly near the upper Bollinger Band, and the opening of the Bollinger Band has simultaneously expanded, strengthening the upward trend. Moreover, during the rise, the trading volume has increased in stages, indicating that there is still strength to support the upward movement. If it can break through the resistance at 88500 with increased volume, the short-term upward space is expected to open further. If it continues to face pressure and falls back, then we will first look for key support around the Bollinger Band's middle track at 86500-86000. Currently, the technical pattern and volume combination indicate a short-term strong trend, and we need to pay close attention to the effectiveness of breaking through the upper resistance levels.
Suggestions:
Bitcoin is recommended to go long around 86300, targeting around 88800,
Ethereum is recommended to go long around 2760, targeting around 2900
