At midnight, the market did not continue the bearish trend as expected, but temporarily shifted to a range-bound fluctuation, stabilizing its footing. During this period, the price fluctuations no longer showed a clear downward trend but instead oscillated within a certain price range, leading the market into a relatively stable oscillation phase. The performance of the altcoin was similar, also not continuing the previous bearish-led downward trend, but temporarily entering a range-bound situation, with prices fluctuating back and forth within a certain range, momentarily halting the downward movement.

In the current market situation, prices are tightly fluctuating between the upper and middle bands of the daily level, presenting a clear range-bound oscillation pattern. In this state, price fluctuations are extremely frequent; the day before yesterday, the market was in a short-squeeze mode, while today it has turned to a long-squeeze mode, continuously clearing the chips in the market with one round after another. If in the short term, the price cannot effectively break below the key area of 96500 at the daily middle band, then from a high probability perspective, the market is still likely to rebound. However, given the current situation, short-term prices are under pressure from the upper band and are experiencing a retracement process, maintaining a bullish outlook after the retracement.

Bitcoin: Near 96500 can go long, short-term target 98500

Ethereum: Near 3350 can go long, short-term target 3500