Yesterday's market continued its oscillating upward trend, with prices steadily climbing from midday into the evening. During the early hours, prices faced resistance around 89,300 and pulled back, but after finding support near 86,795, they stabilized and rebounded.
From the structure of the market, the 4-hour chart shows a small bullish oscillation with a slight upward trend. The price is currently consolidating above the middle band of the Bollinger Bands at around 88,300. The Bollinger Bands are slightly expanding, indicating increased volatility, but overall, the fluctuation range is noticeably narrower compared to typical Saturday patterns. The 1-hour Bollinger Bands are converging, with prices oscillating within a narrow range between the upper and middle bands, showing alternating bullish and bearish movements. Multiple attempts to break through resistance have failed. Currently, the market is in a correction phase, which aligns with the typically low trading activity during weekends. The likely future trend is sideways trading within a range, with a focus on buying low and selling high within the zone.
Bitcoin (BTC): Rebound to around 88,500-89,300, short position targeting 87,000-86,000, with a stop-loss above 89,600.
Ethereum (ETH): Rebound to around 2,990-3,030, short position targeting 2,900-2,800, with a stop-loss above 3,060.
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12.20 Saturday Afternoon Market Analysis:
Yesterday's market continued its oscillating upward trend, with prices steadily climbing from midday into the evening. During the early hours, prices faced resistance around 89,300 and pulled back, but after finding support near 86,795, they stabilized and rebounded.
From the structure of the market, the 4-hour chart shows a small bullish oscillation with a slight upward trend. The price is currently consolidating above the middle band of the Bollinger Bands at around 88,300. The Bollinger Bands are slightly expanding, indicating increased volatility, but overall, the fluctuation range is noticeably narrower compared to typical Saturday patterns. The 1-hour Bollinger Bands are converging, with prices oscillating within a narrow range between the upper and middle bands, showing alternating bullish and bearish movements. Multiple attempts to break through resistance have failed. Currently, the market is in a correction phase, which aligns with the typically low trading activity during weekends. The likely future trend is sideways trading within a range, with a focus on buying low and selling high within the zone.
Bitcoin (BTC): Rebound to around 88,500-89,300, short position targeting 87,000-86,000, with a stop-loss above 89,600.
Ethereum (ETH): Rebound to around 2,990-3,030, short position targeting 2,900-2,800, with a stop-loss above 3,060.