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Bitcoin continued its weekend consolidation rhythm during yesterday's trading session. Currently, from a technical structure perspective, the weekly market has moved up in three consecutive bullish candles after a previous wide-ranging consolidation, all of which have presented as large bullish bodies. Subsequently, the price faced downward pressure after hitting the 100,000 mark, resulting in a bearish candle. After forming support at the bottom, the bulls quickly counterattacked, reclaiming lost ground, and the price remained above the upper band. Meanwhile, the MACD in the accompanying chart has a golden cross and continues to operate with increasing momentum, further confirming the strength of the structure. Therefore, the overall market direction remains bullish. On the daily level, the Bollinger Bands are narrowing upwards, and the price has halted its previous consecutive bearish decline above the middle band, indicating strong support at the middle band. As long as it does not break below the middle band, the primary outlook remains bullish. The current structure is very clear, overall operating around bullish sentiments. In the future market, a pullback to 94,000-93,000 presents long-term buying opportunities.
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Ethereum has begun to catch up and strengthen, with the weekly level closing with consecutive large bullish candles, and the structure is similarly strong, with a continuation vibe. The pullback has halted and stabilized above the low point of 3,531, reclaiming the upward trend and fully recovering the previous day's pullback space, closing above 3,700 at a high position. On the daily level, it closed higher with a bullish candle and once again broke through recent highs. The market continues to oscillate and tentatively test higher points. Today marks the weekly closing, and repeated high tests and pullbacks are not ruled out. Overall, from a structural perspective, the 4-hour chart is still in an upward trend, but the price action is characterized by step-by-step retracements. Each time it tests a high, it is accompanied by a pullback. The previous high's upper shadow was reclaimed and moved upwards the next day, demonstrating a lack of sustainability in the pullbacks. In the short term, 3,530 is a critical point and also a point of top-bottom replacement. Above this level, the bullish trend remains unchanged, though it will still be accompanied by repeated oscillations, following a pattern of step-up and pullback. Additionally, the increased volatility will test entry points. In terms of operation, wait for a pullback to stabilize before selecting lower entry points for long positions, with the first support level around 3,650, combined with the hourly patterns for on-the-spot arrangements.
