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Stay calm, respect the risks, maintain discipline amidst the noise, and stay focused during the downturn. The next bull market will ultimately crown those who persevere. On Monday morning, Bitcoin's price moved in a pattern of initial rise followed by a decline. The price strongly rose from the early morning low near 91,106 to the high near 93,382, then faced resistance and paused, dropping back to a low of 92,102 by midday. Ethereum's early trading also followed Bitcoin's pattern, rising from a low of 3,132 to a high of 3,221 before stalling, then beginning to fluctuate downward, with the lowest point at 3,131 midday.
Currently, the market is in a brief consolidation phase after a rebound. Although there is some increased selling pressure, its impact on the subsequent rebound is limited. On the four-hour chart, the price remains near the upper band of the Bollinger Bands. The rebound candlestick was briefly hindered, but the downward volume was insufficient, and after a short pullback, a quick rebound occurred, indicating that the bulls still dominate the market. On the hourly chart, the bullish pattern is clear, with weak downward momentum, and the rebound trend is expected to continue. Overall, it is advisable to continue with a strategy of buying on dips, positioning long orders near short-term support levels.
Trading suggestions:
Bitcoin: Around 92,000, consider buying, target 94,000
Ethereum: Around 3,120, consider buying, target 3,300