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The crypto market is unpredictable, with bull and bear cycles being the norm. There’s no need for euphoria during sudden surges, nor anxiety over short-term plunges. Stay rational, focus on value, block out market noise, endure the loneliness of waiting, withstand the test of volatility, and remain at the table—only then can you seize the compounding returns and opportunities that time offers. Slow and steady perseverance will eventually carry you through cycles and lead you to your moment of glory.
Looking back at the early morning hours, there was little market fluctuation and trading was sluggish; the entire market was in a "recovery" phase after a sharp drop, with only slight movement later in the night. BTC fell from 89553 to a low, then slowly climbed back up to 91338, before a slight pullback to stabilize and adjust around 90200. ETH followed BTC’s rhythm, dropping to a low of 3066, then surging over 100 points to 3152, but couldn’t hold and retreated to fluctuate around 3110.
The current market is in a short-term pullback and consolidation phase, but the downward pressure has weakened. On the 4-hour chart, the price is above the middle Bollinger Band and has repeatedly tested this level without a significant breakthrough, indicating weak bearish momentum here. This suggests the short-term correction is more of a technical adjustment, with the potential for stabilization and another rebound ahead. On the hourly chart, the price is gradually forming a W-bottom pattern and is currently under pressure at the neckline. After reaching the lower support, the market is expected to finish consolidating and start a new bullish move. In terms of strategy, one could wait for the price to retreat to key support areas this morning before considering long positions.
Follow WeChat Official Account: Changsheng Looks at Trends
Trading recommendations:
BTC: Go long around 89500, target 93000
ETH: Go long around 3050, target 3400$BTC $ETH