Old Wang provided his thoughts again in the early morning for verification. After the price of the currency touched the lower level of the box in the early morning, it rebounded and quickly regained lost ground. Old Wang also provided timely analysis and subsequent thoughts, advising everyone to set up low long positions. Those who followed the thinking during this wave of consecutive upward movements should only have gained a wave.
From the current market situation, the 4-hour K-line shows that the price of the currency is still constrained by the downward trend channel, with significant resistance in the upper resistance zone, and no effective breakthrough technical signals have appeared yet. The long lower shadows that have appeared continuously in the K-line pattern indicate that there is strong buying support below, but the overall price movement is still limited to a range of oscillation and consolidation, with the battle between bulls and bears yet to determine a clear direction. Switching to the 1-hour level, a consecutive upward rebound pattern has emerged in the short term, although it has not yet broken through the key resistance level, but technical indicators have formed an upward resonance, and the volume-price relationship also shows increased buying enthusiasm in the short term. In the context of significantly narrowed market volatility, combining with the technical characteristics of morning price retracement to support levels, it is recommended to focus on setting up long positions at low levels, betting on a short-term rebound repair market.
Operation suggestions:
Bitcoin long at 87000-87500, target 89500
Ethereum long at 2910-2930, target 3050
