The midnight market rose as expected, with bulls warming up and gaining momentum again. The Bitcoin price peaked near 91300, while Ethereum reached 3152. Zhuowei also provided hints for a continuation of the rebound at midnight, advising everyone to take long positions. Congratulations to those who got in. For those who missed out, be patient and observe; the recent market volatility is quite ideal, and opportunities keep presenting themselves. Follow Zhuowei's thoughts, and let's navigate the crypto market together.
The current market has briefly pulled back for correction, but the downward momentum is gradually completing. On the four-hour level, it is currently running above the middle band of the Bollinger Bands, with the candlestick continuously testing the efficiency of the middle band under pressure. However, it has not yielded results, and the bearish momentum is clearly insufficient to break through the middle band of the Bollinger Bands, indicating that the short-term pressure is merely corrective, and a subsequent rebound is about to reappear. On the hourly level, the market is gradually forming a W shape, currently in the pressure and pullback stage of the strong part. After reaching the bottom support, it is highly likely to initiate a strong bullish trend, so for morning positioning, as soon as the bottom is reached, quickly enter long positions.
Bitcoin 90000-89500 range long Target 92000
Ethereum 3100-3070 range long Target 3200
