1.3 Friday Morning Market Insight

Currently, the overall market appears to be testing the resistance level around 98000, without effectively breaking through. It has chosen to pull back under pressure, but this pullback is not ideal. This morning, we need to closely monitor the situation regarding its breakout of resistance. From a technical perspective, the Bollinger Bands on the daily chart are starting to flatten, indicating a stabilization trend above 96000. Looking at the four-hour chart, the MACD shows a continued decrease in volume below the zero line, with the fast and slow lines converging. We can see that the two MACD lines have crossed above the zero line, and the bullish momentum remains strong without signs of reduction. Considering the current market sentiment, the upward trend towards the north is still ongoing. Therefore, in the morning layout, we should focus on low-level long opportunities. From the smaller structure chart, it is noteworthy that the top-bottom conversion pattern is reflected at 96500, where the previously strong resistance level has transformed into a solid support level. This undoubtedly provides a crucial support foundation for the bulls' subsequent actions. The current pullback is also within the expected range, and the bulls are continuously testing the resistance level upwards. So, this morning, we first follow the trend and look for short-term long positions. If it breaks below the key positions, we will adjust our strategy. This morning, we can consider entering long positions near 96500, with the target set on observing the breakout and pressure situation at 98000. For Ethereum, we can participate along with Bitcoin around 3420/3400, with a target of approximately 3550.

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