Yesterday, after the U.S. stock market opened, it rose sharply past the previous high and then fell across the board. The cryptocurrency market was significantly impacted, retracting sharply, resembling a roller coaster market. The main players took the opportunity to conduct a major wash, causing both long and short positions to scream in despair throughout the market. Bitcoin fell from around 102700 to around 96100, currently oscillating around 96800.

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, prices fluctuate up and down very frequently. The market was washed out the day before yesterday, but today it has turned to a bullish explosion. This cycle continues, persistently cleaning up the chips in the market. If the price cannot effectively break below the key area of 96000 in the short term, it is highly likely that the market will still show a rebound trend.

Intraday trading strategy

Bitcoin: Long near 96500, target 98000. Ethereum: Long near 3350, target 3450. Protect the previous low with a 500-point defense, 30 points.