Wednesday noon Bitcoin and Ethereum market analysis and trading suggestions
The overnight market experienced a technical pullback after a round of highs, with Bitcoin dipping to around 92000, while Ethereum fell back to around 3280. The current trend can be viewed as a natural correction in a continuous upward process, providing an observation window for a new round of positioning.
The daily chart shows a series of upward candles, with prices steadily rising along the upper Bollinger Band, accompanied by an increase in trading volume, indicating that the current bullish momentum remains dominant, and the ascending channel structure remains intact. The hourly chart shows a short-term pullback, which is a normal technical adjustment within an upward trend. The Bollinger Bands continue to expand, with no significant resistance structure appearing above, and the overall space remains open. It is important to note that the KDJ indicator has entered the overbought zone, and there may be a need for technical correction in the short term, but this does not change the current trend pattern; rather, it could provide structural opportunities after the pullback.
In terms of operation, it is recommended to maintain a trend-following approach, with phased positioning during the pullback.
Trading suggestions:
Focus on buying Bitcoin near the support around 92000, with a target range above 94000;
Focus on buying Ethereum near the area around 3280, with a target towards around 3400.
The above analysis is for reference only; the market changes rapidly, so please pay attention to risk management.
