Yesterday, the Bitcoin and Ethereum trends completely met expectations, with the daytime pullback accurately reaching the strategy entry point, and the evening session rising as expected to the target range.

From the perspective of the 4-hour structure chart and technical indicators, there has been a significant pullback from the previous high, and the short-term trend shows characteristics of being under pressure and fluctuating.

The current price has fallen below the middle band of the Bollinger Bands, operating between the middle band and the lower band, and the lower band has not yet shown a significant downward opening, indicating that although the short-term is weakening, it has not entered an extreme downward trend and is still within the range defined by the Bollinger Bands.

From the perspective of the Bollinger Band pattern, the short-term moving averages show a downward turning trend, diverging from the price, reflecting a decrease in short-term upward momentum. The price quickly fell back after rising near the upper band of the Bollinger Bands, which is a typical technical correction after being overbought, and during the correction process, the trading volume did not show extreme increases, indicating that the bears have not yet formed a sustained selling trend.

Short-term attention should be paid to the effectiveness of support at 89300 (Bollinger Bands lower band). If this position can hold, the price is likely to fluctuate and repair between the middle band and the lower band, with a subsequent attempt to rebound towards the middle band at 91500; if the lower band is effectively broken, the probability of further probing the previous low of 87600 increases. On the upside, the resistance at 94500 Bollinger Bands upper band needs to be closely monitored; only by regaining the upper band can the short-term pressure pattern be reversed and the upward trend restarted.

Intra-day trading suggestions

For Bitcoin, consider going long in the 89300-88800 range, targeting 92000-92800.

For Ethereum, consider going long in the 3130-3100 range, targeting 3250-3280.
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