12.5 Morning Analysis
The current trend of Bitcoin appears weak, but is actually showing resilience at a key level. In the four-hour K-line chart, the candlestick with a long lower shadow signifies the bulls successfully resisting the bears' attack. On the one-hour level, the price quickly rebounded after reaching 90822, highlighting that the support area below is a strong defense line for the bulls.
The bears have failed to push down significantly here, indicating a decrease in their momentum and easing of market selling pressure. This pullback seems more like a healthy correction of the previous rise, aimed at clearing floating positions, rather than a trend reversal. As long as the key level of 90800 is not broken by a real drop, the market structure is still in the process of repairing and consolidating, and the upward trend remains unchanged.
Currently, the market is in a 'weak rebound' state. Though the rebound is slow and repetitive, it lays the groundwork for future upward movements. This indicates that market sentiment is recovering from panic, and bullish confidence is gradually being rebuilt at lower levels. The more thorough the consolidation, the stronger the foundation for future upward breakthroughs.
In summary, a positive attitude can be held for the future market. The market is in a 'building momentum' phase, and after holding the key support, each pullback is an opportunity for the bulls to gather strength. There is still room for rebound, although the path is winding, the direction is inclined towards upward repair. At this time, patience and holding key levels are crucial.
• Bitcoin can be bought around 91500, with a target of 93500.
• Ethereum can be bought around 3110, with a target of 3200.
