On the 1-hour short-term chart, after price faced resistance at higher levels and pulled back to the lower band area, the downward momentum significantly weakened during this process, with no sustained weak downtrend emerging. Subsequently, price quickly rebounded and returned to fluctuate near the midline, demonstrating the market's quick recovery capability of bullish forces.
Notably, the lows formed during the pullback process showed successively higher levels, indicating strong buying support below and difficulty for bears to effectively expand downside space.
Overall, the current trend exhibits a typical pullback accumulation pattern, with bulls and bears reaching temporary equilibrium in this zone. The market needs to focus on the breakout direction near the midline to judge trend continuity going forward.
Bitcoin: Support near 71000-70200, upside targeting 72000-74000
Ethereum: Support near 2100-2050, upside targeting 2150-2300
On the 1-hour short-term chart, after price faced resistance at higher levels and pulled back to the lower band area, the downward momentum significantly weakened during this process, with no sustained weak downtrend emerging. Subsequently, price quickly rebounded and returned to fluctuate near the midline, demonstrating the market's quick recovery capability of bullish forces.
Notably, the lows formed during the pullback process showed successively higher levels, indicating strong buying support below and difficulty for bears to effectively expand downside space.
Overall, the current trend exhibits a typical pullback accumulation pattern, with bulls and bears reaching temporary equilibrium in this zone. The market needs to focus on the breakout direction near the midline to judge trend continuity going forward.
Bitcoin: Support near 71000-70200, upside targeting 72000-74000
Ethereum: Support near 2100-2050, upside targeting 2150-2300