12.10 Noon Market Analysis

This morning, Bitcoin rebounded to around 98138 but has been on a downward trend since then, currently operating near 96900. In the morning, we established short positions, hitting over 500 points on Bitcoin and over 30 points on Ethereum.

The overall market situation is in a 📉 pattern. However, it is important to note that the current price is at the support level of the lower boundary of the price channel. Although the market shows a 📉 trend, the strength to create a significant breakdown below is clearly insufficient at this moment. As of now, Bitcoin's price has stabilized around 97000 USD, while Ethereum has stabilized around 3700 USD. Both are currently in the support area of the lower Bollinger Band. In financial markets, when prices encounter strong support that cannot be broken, it often triggers a rebound.

Bitcoin is rebounding near 96500 for a long position, targeting around 97500 with a defense margin of 500.

Ethereum is rebounding near 3680 for a long position, targeting around 3750 with a defense margin of 45.