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12.1 Morning Silk Road


Looking back at yesterday's market, Bitcoin dipped from the morning high of 91016 to a low of 90414, then surged strongly to 91580 in the afternoon, followed by a sustained upward fluctuation in the evening, with clear speculative activity. It is still in an upward phase. Ethereum dipped from the morning high of 3011 to a low of 2974, then began a strong upward trend in the afternoon, experiencing a strong pullback in the early hours. It is currently stabilizing around 3020.

From the current perspective, whether the current rebound marks the beginning of a new rise or is just a wave is key to the continuation within the day. The strong surge over the weekend broke the previous downward rhythm, while last night's sharp rise was followed by a sudden stop, resulting in an adjustment. If we view this as an adjustment, after this pullback, there needs to be a second surge for the upward movement to continue. However, from the current correction intensity and rebound space, it indicates that the adjustment will continue. At present, the short-term structure is in a sideways repair, but from the daily line perspective, there is still some adjustment space. There is no need to worry about the space issue for the time being. The previous strong surge has led to the moving average indicators turning upwards and generating upward momentum. For the short term, just follow the upward trend and watch for a one-sided continuation.
Operation Suggestions
Bitcoin: around 91000-90700, target near 92500
ERC20: Around 3010-3000, target near 3100.
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