After the early morning price comparison surged to a high line of 108,366, today's market pullback has also exceeded expectations. The market is showing a stepwise downward trend, with significant pullback strength and no rebound provided. The bullish outlook we provided this morning at 105,000 only captured 700 points before timely exit. The view towards the high is also limited. Bitcoin's intra-day price reached a low point of 103,213. It has currently warmed up to around 103,900. Ethereum is still showing a downward trend. After reaching a high of 4,087 yesterday, bulls have been completely suppressed by bears with no chance to breathe. Ethereum's intra-day low has pulled back to 3,812.
From a four-hour structure perspective, after reaching the peak and falling back, there has been a significant downward pullback erasing all previous gains, but the trading volume is limited and has not materially broken through. The subsequent lower shadow line has also allowed the market to step into an upward rhythm again. Currently, the mid-track forms a clear resistance; unless there is a significant change, the bullish outlook remains unchanged. The Bollinger Bands are gradually stabilizing; intra-day, we should maintain pullbacks for bullish participation. If timing is difficult to grasp, you can consult Qi Bo.
Operational Suggestions
Long Bitcoin at 103,000-103,300 with a target of 105,000.
Long Ethereum near 3,800 with a target of 3,900.
