In the early morning, a breakthrough occurred as BTC stabilized and broke through the key psychological level of 90000. Subsequently, with a significant increase in trading volume, it continued to rise to a high of 91800, establishing the dominance of the bulls in the short-term market. The current pullback is a healthy technical correction, primarily aimed at digesting the selling pressure from profit-takers and trapped positions near the previous highs. It continues to operate firmly above 91000, highlighting the overall strong trend.
From the perspective of market structure, two significant positive signals provide strong support for subsequent price increases: First, the 90,000 level has completed a critical transformation from a resistance level to a strong support level, becoming an important safety cushion for future market movements; second, during the high-level consolidation process, the trading volume has remained moderate, forming a typical "air refueling" technical pattern, which effectively cleansed short-term floating capital and accumulated sufficient momentum for future upward attacks. Technical analysis shows that as long as the support area above 90,000 is not effectively broken, another upward attack will be initiated.
BTC: 90000-91000 long, looking at 92000, 93550; ETH: 2980-3010 more, looking at 3080, 3170.
Personal opinion, for reference only, not investment advice!
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Latest thoughts on BTC/ETH on Thursday evening
In the early morning, a breakthrough occurred as BTC stabilized and broke through the key psychological level of 90000. Subsequently, with a significant increase in trading volume, it continued to rise to a high of 91800, establishing the dominance of the bulls in the short-term market. The current pullback is a healthy technical correction, primarily aimed at digesting the selling pressure from profit-takers and trapped positions near the previous highs. It continues to operate firmly above 91000, highlighting the overall strong trend.
From the perspective of market structure, two significant positive signals provide strong support for subsequent price increases: First, the 90,000 level has completed a critical transformation from a resistance level to a strong support level, becoming an important safety cushion for future market movements; second, during the high-level consolidation process, the trading volume has remained moderate, forming a typical "air refueling" technical pattern, which effectively cleansed short-term floating capital and accumulated sufficient momentum for future upward attacks. Technical analysis shows that as long as the support area above 90,000 is not effectively broken, another upward attack will be initiated.
BTC: 90000-91000 long, looking at 92000, 93550;
ETH: 2980-3010 more, looking at 3080, 3170.
Personal opinion, for reference only, not investment advice!
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