Latest insights on BTC/ETH on Friday evening

BTC four-hour level: After rising continuously to the upper Bollinger band, it did not continue to break through strongly but entered a phase of small downward and upward consolidation, completing a short-term technical repair. During this period, it experienced a slight pullback to test support, and then restarted the rebound trend with a small upward candle. It is currently approaching the previous high point of the test; the overall upward structure has been initially constructed. Combined with wave structure analysis, this continuous consolidation after the end of the A wave is precisely to build momentum for the subsequent upward movement. In the evening, it is expected to move in sync with the rhythm of the US stock market, and the B wave upward movement is expected to start on schedule.

From the perspective of the one-hour chart, after yesterday's market closure, the consolidation trend continues to extend. The Bollinger Bands are continuously narrowing, which intuitively reflects a decrease in current market activity, and liquidity is gradually weakening. Previously, after a strong rise with a large bullish candle, there has not been an effective deep retracement, which means that bullish momentum has not been fully released. Overall, after the current consolidation and accumulation phase ends, there is still upward momentum, and the short-term bullish outlook remains unchanged, focusing mainly on retracement buying.

BTC: Buy near 90000, watch 92500, 93500;
ETH: Buy near 3000, look at 3100, 3230.

Personal opinion, for reference only, not an investment advice!

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