Every pullback is an opportunity to get in, and every celebration is a warning of risk. Don't let emotions influence your decisions, don't let impatience replace patience, cognition is your dragon-slaying sword, and discipline is your protective shield. Traversing the cycles of bull and bear markets, enduring market shakeouts, those who withstand loneliness and stick to principles will eventually, in some cycle, blossom into the prosperity you desire. This morning, Bitcoin started a new downward cycle as expected, oscillating from the high of 93,500 down to around 91,400. The market showed signs of warming, with the current price rebounding to around 92,600.

From the current chart, the 4-hour timeframe shows that after reaching a short-term high this morning, the price faced resistance and pressure, then entered a brief correction. Currently, the market is dominated by two consecutive bearish candles, with short-term movement above the middle band of the Bollinger Bands, which continues to rise. The middle and upper bands serve as support and resistance respectively. On the 1-hour chart, the price exhibits a relatively strong oscillation pattern, with short-term trends being relatively strong, and the Bollinger Bands opening wider. Regarding technical indicators: The KDJ shows a preliminary bullish crossover below the D line, with the J value turning upward from a low position, indicating strong short-term rebound momentum; RSI is in the neutral to slightly strong range between 50-70, not yet entering overbought territory, suggesting room for further upside; MACD’s fast and slow lines are below the zero axis but turning upward, with values continuing to expand, and volume bars steadily increasing, indicating that bullish momentum is still being released. Afternoon trading can follow the morning’s approach, focusing on buying after pullbacks.

Follow Gong Zhonghao: Always winning by observing the trend

Trading suggestions:
Bitcoin: Around 91,800, with a target of 95,000

Ethereum: Around 3,200, with a target of 3,500