1/3 Market Analysis

BTC on the daily chart has formed a bullish candle yesterday, with the K-line center gradually rising, and the K-line arrangement has initially shown a bullish trend.

The previously emphasized level of 98000 points is undoubtedly a key breakout point in the current trend.

Yesterday, the price of Bitcoin peaked around 97850 before retreating, which clearly indicates significant pressure at that position. From the daily perspective, only by successfully breaking through and firmly standing above 98000 points can Bitcoin smoothly open up subsequent upward space.

Now let's focus on the 4-hour chart. Since reaching 93000 points, the price of Bitcoin has gradually and steadily risen. This upward process appears very healthy, in stark contrast to the previous rapid surges followed by high-level fluctuations and crashes within the day.

For intraday operations, it is essential to pay close attention to the support situation in the range of 96400 - 95400; as long as this support holds, the bullish outlook can continue. Meanwhile, closely monitor the pressure formed at the positions of 99000 - 100000 points above.

ETH Market Interpretation

As for Ethereum, it was mentioned yesterday that its performance is significantly stronger than Bitcoin in the current market phase. Yesterday, the daily chart formed a large bullish candle, successfully engulfing the previous smaller bullish and bearish candles, strongly indicating that bullish momentum is gradually strengthening.

From a technical analysis perspective, the 7-day moving average has started to turn upwards, forming a golden cross with other moving averages, which is generally considered a positive signal.

Observing the 4-hour chart, Ethereum's upward momentum yesterday was steady and gradually advancing, with an overall healthy trend. In the early hours, the price entered an adjustment phase, with the K-line testing the 4-hour moving average for support, and signs of turning upwards have already appeared.

In terms of intraday operational strategy, focus on the support role at the 3440 - 3410 positions below, using this as a basis to maintain a bullish expectation; above, pay close attention to the pressure zone formed at the 3610 - 3640 positions.

It is especially important to note whether the critical level of 3500 points can hold, as this will have a significant impact on the subsequent market development.

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