12.4 Morning Thoughts
Let's review today's trends
Yesterday, the situation in South Korea was turbulent, and the president issued a gag order that directly caused a correction in the global cryptocurrency market. Bitcoin dropped to 93578, and after the gag order was lifted, it rebounded to 96250, entering a high-level fluctuation.
From the 4-hour structure chart, the Bitcoin price is at the lower band of the Bollinger Bands.
Below, we see the moving averages competing around 95800. The battle is between the 96500--96200 range. If the price breaks 96200, it indicates that the bullish strength is still strong, and a new bottom will form in this area.
For Bitcoin, we are paying attention to 95650 below and looking at 97000 above.
For Ethereum, we are paying attention to 3575 below and looking at 3660 above.
