1.7 Wednesday Morning BTC/ETH Silk Sharing

The market has confirmed a rebound after a short-term consolidation. On the four-hour chart, the price quickly rebounded and stabilized after testing the middle band of the Bollinger Bands, indicating solid support at the middle band and that the bulls are regaining control. On the hourly chart, the candlesticks strongly rebounded from the lower band, showing active capital absorption during each correction. Meanwhile, the MACD is about to form a golden cross, with the retracement momentum significantly weakening, and a new round of upward attack is brewing.

Overall, the short-term correction is a normal adjustment and accumulation within an upward trend. The current pullback actually provides a good opportunity for deployment. It is recommended to adopt a bullish approach, patiently wait for the price to stabilize before entering in batches, and follow the rebound trend to grasp the subsequent upward space.

Bitcoin is long in the 92,800-93,300 range, target 95,500
Altcoin is long in the 3,250-3,270 range, target 3,410
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