#BTC Looking back at the early morning session, the overall market continued to pull back further, exhibiting an adjustment pattern. After Bitcoin retraced from around 94,000 in early morning yesterday and faced selling pressure, it dipped to around 90,500 in the early morning where it found support and bounced. Currently, Bitcoin is consolidating around the 91,000 level. Ethereum followed a similar pattern, dipping to around 3,120 in the early morning where it found support. Currently, the consolidation remains in an adjustment phase, with attention on bottom support signals.
From the current market perspective, after consecutive positive days on the daily chart, negative lines are adjusting the previous bullish momentum. The daily chart closed with a solid bearish body, but overall has not exhibited the kind of climactic moves seen after recent rallies, suggesting that the previous pullbacks have formed certain bottom-building signals. The current adjustment strength has held above the 90,000 level. Referencing Fibonacci and short-term gaps, around 90,500 remains strong support. Should the market break below 90,500 to fill the gap, attention should be paid to the 50% key support level. Further pullback would mark a shift to a bearish trend. Currently in a small timeframe pullback adjustment phase, the strategy for future movements, whether short-term or medium-to-long-term, should focus on buying on dips as the primary approach.
Bitcoin can go long at 90,500-91,000, targeting around 92,300. Ethereum can go long at 3,120-3,150, targeting around 3,230. #ETH
#BTC Looking back at the early morning session, the overall market continued to pull back further, exhibiting an adjustment pattern. After Bitcoin retraced from around 94,000 in early morning yesterday and faced selling pressure, it dipped to around 90,500 in the early morning where it found support and bounced. Currently, Bitcoin is consolidating around the 91,000 level. Ethereum followed a similar pattern, dipping to around 3,120 in the early morning where it found support. Currently, the consolidation remains in an adjustment phase, with attention on bottom support signals.
From the current market perspective, after consecutive positive days on the daily chart, negative lines are adjusting the previous bullish momentum. The daily chart closed with a solid bearish body, but overall has not exhibited the kind of climactic moves seen after recent rallies, suggesting that the previous pullbacks have formed certain bottom-building signals. The current adjustment strength has held above the 90,000 level. Referencing Fibonacci and short-term gaps, around 90,500 remains strong support. Should the market break below 90,500 to fill the gap, attention should be paid to the 50% key support level. Further pullback would mark a shift to a bearish trend. Currently in a small timeframe pullback adjustment phase, the strategy for future movements, whether short-term or medium-to-long-term, should focus on buying on dips as the primary approach.
Bitcoin can go long at 90,500-91,000, targeting around 92,300. Ethereum can go long at 3,120-3,150, targeting around 3,230. #ETH