In the early hours, Bitcoin started to rise from the level of 101551, climbing all the way to a high point around 102762, and then began to pull back. The current price has retraced to around 100600 and is in a state of range oscillation. Ethereum, after reaching a high point around 3700, has shown a relatively weak trend, gradually stepping down to around 3657.

Currently, the upward channel is still functioning. After reaching the first resistance level this morning, Bitcoin is currently in a pullback phase on the 1-hour time frame. In today’s market, attention should be paid to the key position of 101860. Only when the price is able to stabilize above this position can this wave of hourly pullback be declared over, and the market will begin to rise again. If the market continues to rise, the upper target/resistance levels to watch are 102800-103500. As it stands, there are no divergence signals yet, and the upward channel has not been broken, so for the time being, we maintain a bullish view.

Bitcoin: Near 101500 can be considered for short-term target 103000

Ethereum: Near 3640-3660 can be considered for short-term target 3750