The big cake broke through the new high of 108,000, instantly igniting the market's enthusiasm for long positions, but then encountered strong pressure, and quickly pulled back and then fell all the way down. It has now fallen to around 95,600 and fluctuated sideways. This violent fluctuation hides key signals. From the price behavior, the sharp drop after the new high is a typical result of profit-taking and the test of upper resistance. At present, it is trapped in the 96,000-98,000 range of fluctuations, which is actually building a new short-term supply and demand balance zone.
The lower rail support of the daily Bollinger band is particularly critical. After bottoming out and rebounding, it must go through a continuous stage-by-stage rise. The upper gap in the price behavior symbolizes a strong outbreak of bullish momentum and a stable dominant position in the short term. As long as the gap is not filled, it is like the bull fortress has not been breached, the market sentiment tends to be positive, and the low-long strategy is born. The recent market operation is not ideal. Consult btc0796 and find me to discuss the market together.
Bitcoin retracement: 94000-95000, target 98000-102000, defense 93000
Ether retracement: 3250-3300, target 3400-3500, break 3680, defense 3200
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