Tuesday Evening Analysis
After testing the 90,000 level during the day, the market faced pressure and pulled back, with the lowest point reaching the 85,159 level. The current market is dynamically adjusting and consolidating around 86,100.
From a technical structural perspective, today's market attempted to break through the 90,000 level twice but failed. The subsequent pullback was expected. The daily level's upward movement lacks solid bottom support, and with insufficient momentum, it is difficult to sustain a strong upward trend. Therefore, a weakening trend is becoming evident, leading to a series of short-term pullbacks and bottom-testing behaviors. This market trend may indicate that some bulls are gradually withdrawing from the market.
From the four-hour chart, although the overall market shows a bearish candlestick, the likelihood of breaking below the current upward trend line is low. The overall market structure still maintains an upward trend, with a pullback after a one-sided rally. Given that the Bollinger Bands have not yet completed their correction, and that the price maintains a certain distance from the middle band, the market is expected to continue to gather strength after reaching a high in the short term. Based on this, we can continue to use the 85,000 level as a support point and formulate corresponding strategies.
Tuesday Evening Operations:
Bitcoin 85,000-85,600 target 88,000-88,800
Ethereum 3,210-3,230 target 3,300-3,320
