On Monday after the market closed, the early session saw a sharp rise, recovering nearly 2000 points, but failing to break the 90,000 level, which indicates that the bulls have not gained such strong momentum in the short term. It also suggests that this round of pullback is inevitable. After dipping to 85,000 and stopping the decline in the early hours, the market has now partially recovered, indicating that breaking below support requires a step-by-step approach rather than a sharp drop. Regarding the actual trading, we strictly followed our strategy in the early session: entered around 88,500, added positions near 89,500, and exited all positions lightly around 86,000, which can be considered a small gain in the short term. Currently, being trapped in positions is not scary; what’s frightening is blind operation. When the market has not shown a clear upward trend, it’s better to hold chips quietly.

From the current chart, Bitcoin has formed a large bearish candle on the four-hour cycle, with the price hitting the lower band of the Bollinger Bands. The previous gains have been more than half retraced. After touching the lower band, the decline has slowed, but the downward momentum has not weakened with a slight rebound. Overall, it remains in a consolidation zone of oscillating downward. On the hourly chart, two consecutive bearish candles have broken through previous support levels, and the downward momentum continues to operate within a downward channel. This reflects that the market’s oversold sentiment is still accumulating, and the moving averages are diverging downward, indicating the possibility of further decline. However, since the current closing point is temporarily supported by the important support at 86,000, the market still has the potential for a second rebound as a correction. Therefore, in terms of operation, short-term traders can consider going long early in the session, viewing the current correction as a basis for a potential second upward move, and then decide on a long-term strategy based on the resistance of the second rebound channel.

Bitcoin can be bought around 86,000, with a short-term focus on 87,500. Altcoins can be bought around 2900-2930, with attention to 3020. #BTC #ETH