The fluctuations in the cryptocurrency market are unpredictable, with both rises and falls being the norm. Maintaining a steady mindset is essential for long-term success. Do not let short-term volatility disrupt your peace of mind, and do not let market emotions influence your decisions. Stopping losses is a form of respect, patience is a source of confidence, and understanding is also a source of confidence. Stick to your own rhythm, endure the storms, and you will eventually wait for your own market and brightness. Looking back at the early morning hours, there were no significant fluctuations in the market, and the trading market was quite quiet. The entire market was in a 'rest and recuperation' phase after a sharp decline, only moving slightly in the later hours of the night. Bitcoin fell from 89553 to a low point before slowly climbing back up to 91338, then slightly retracing and stabilizing around 90200; Ethereum followed Bitcoin's rhythm, after dropping to a low of 3066, it surged over 100 points to 3152 but could not hold and fell back to around 3110. Currently, the 1-hour chart shows a downward oscillation trend, with the Bollinger Bands opening downwards and prices running near the lower band, with short-term bearish forces dominating. The support at the 89000 level is relatively solid, restricting further price declines, and the market is maintaining a narrow range consolidation in the short term. Observing the candlestick patterns, three consecutive long bearish candles have formed, with increased trading volume, indicating that bearish momentum is still being released. Recent highs are gradually moving lower, but the lows have not yet been effectively broken, and the descending channel structure is relatively clear. The short-term market is likely to continue the weak pattern, overall in a bearish-dominated downward oscillation phase. The effectiveness of the lower support has become the current focus. It is recommended to remain cautious, wait for price retracement and accumulation of strength, and for the trend to become clear before choosing to enter long positions; it is unwise to blindly chase after rises or falls.
Operation suggestions:
Bitcoin: around 89500, target 92000
Ethereum: around 3050, target 3400
