Reviewing Wednesday's intraday activity, Bitcoin fluctuated upwards around 90200 in the early morning, with the price peaking at 93958 in the afternoon before retreating to around 92682 for consolidation. In the evening, it quickly fell to a low of 91697, after which bulls pushed the price back up to around 9370 for consolidation. Ethereum also rose in sync, stabilizing around 2970 in the early morning before the bulls pushed the price to a high of 3094 in the evening, where it faced resistance and quickly fell to a low of 3030. The bulls then made a second push, driving the price to break through the previous high, peaking at 3145 before consolidating. The long position strategy provided during the day was effectively executed, with a small gain on the short position as well. A total of 6358 points were captured for Bitcoin, and 270 points for Ethereum. (Retail investors are not counted)
On the daily level, after a four-day adjustment with consecutive declines, we welcomed a rebound with consecutive gains. The lower Bollinger Band turned upwards, confirming a stable bottom, and the KDJ indicator formed a golden cross at a low level and continued to diverge upwards. The short-term momentum and price trend formed a positive resonance, significantly strengthening the certainty of the upward trend. Although the MACD bearish volume bar slightly expanded on the hourly dimension, the effective closure of the Bollinger Band limited the downward space. Coupled with the support of the previous single-pin bottom reversal pattern, the upward momentum is sufficiently reserved. It is suggested to buy on dips in the early morning, with a focus on the effectiveness of the key support interval; remember to maintain good defense!
Thursday early morning thoughts
Bitcoin: Around 92500–92000, targeting near 94500
Ethereum: Around 3060-3080, targeting near 3200
