The current big cake is becoming more and more like a knockoff, with a heavy flavor of forced control.
Last night, the US stock market fell sharply, and BTC followed, breaking 90,000, but quickly rebounded, although the rebound strength is very weak, so don't expect any smooth main upward wave in the short term.
The real directional choice will likely have to wait for the Japanese interest rate hike to land.
Structurally, it's very clear:
Whether the 90,500 level can be stabilized in 4 hours is key.
If it can stay above, there is a chance to rush to 100,000;
If it can't hold 90,000, be prepared for a second bottom test and continue wide fluctuations.
Ethereum has continuously closed with big bearish candles these two days, which is actually a typical secondary retest of the neckline.
In the early stage of the bull market, there should be repeated washing to clear short-term floating profits and scare off following retail investors.
This morning, it briefly broke the neckline and quickly pulled back, indicating effective support;
It did not break through the long-term downward line in one go, just faced resistance and retested, building strength for the next attack.
The overall high and low points are rising, and after a big bearish candle in 4 hours, it meets a doji star, forming a pregnant line structure, indicating that it is moving in a fluctuating manner rather than reversing.
The market environment is also very realistic: CEX has speculative funds sitting in, and there are people controlling the market in Alpha, but the overall market is weak, making it extremely difficult to operate. If you're unsure, it's safer to act less frequently than to act frequently.
The pullback is a process, not the end point. The direction is still upwards, so be patient and watch for the northbound trend.
