After yesterday's overall market further deep adjustment, the BTC price fell to around 89000 and stopped falling, and there was a strong rebound in the early morning, touching around 93800 and then falling back. On the ETH side, it did not experience a deeper pullback, but instead showed strength at the 2900 level, indicating signs of holding key support in the short term. Recently, I have been reminding everyone to focus on the support structure at the 90000 level. The pullback yesterday has already provided that, and considering the support and resistance levels from the first half of the year, 89000 is still expected to be a key support in the short term.

The peak of this bull market has seen a correction of nearly 30% so far. Referring to the new highs of the previous two bull markets, corrections have generally been around 30%. Currently, it might be wise to consider guessing the short-term bottom and positioning for long positions at lower levels, rather than further chasing short positions at even lower levels. Looking at the four-hour chart on a smaller time frame, the previous level around 89000 was an important resistance level. Yesterday, the price was blocked at 89000 during a pullback, and after that, it fell from the key Fibonacci 23.6% level. We are now in a phase of testing the bottom support structure after a pullback, and the indicators have also generally entered an oversold phase. Therefore, in the short term, we can focus on long positions at lower levels to operate, aiming for more strength, while keeping a stop loss at the key resistance level.

BTC can be bought at 90000-89500, watch 93800 and around 96000. ETH can be bought at 2950-2980, watch around 3200. #btc