Analysis of the Morning Thoughts on Bitcoin and Ethereum

Operation Suggestion #BTC #ETH

Bitcoin: Build long positions in the 85000-86000 range, targeting around 88000

Ethereum: Build long positions in the 2900-2950 range, targeting around 3050

Bitcoin and Ethereum have successfully retraced, providing a good opportunity for long positions in the morning.

Yesterday at midnight, the cryptocurrency market collectively retraced, with Bitcoin sharply crashing from the 89845 line, hitting a low of 85073 in the early morning; Ethereum also faced pressure, dropping from the high of 3145 to the 2890 line. Currently, both major cryptocurrencies have entered a technical correction phase.

From the structural analysis of the market, the daily price level facing strong resistance at the 90,000 key point has seen a pullback, which is a technical adjustment in the uptrend process, essentially a healthy consolidation of the market. The core support acts as a mid-term dividing line for bulls and bears; as long as it is maintained, the overall upward channel will not be broken. This pullback has effectively digested short-term overbought pressure and cleared part of the floating long positions, accumulating momentum for further upward movement. Currently, the hourly chart has released a clear rebound signal, and morning operations should prioritize low long positions.