Rebound pressure testing is ongoing, focus on buying the dips!

Bitcoin had a rebound this morning, reaching around 99,200, exciting the bulls, as the 100,000 mark is just a step away. At this time, it's crucial to remain calm. I'm not bearish; I'm just reminding everyone of the risks. Don't chase highs and sell lows. The upper level of 99,500 must hold for the rally to continue towards 100,000. Looking at the golden ratio, the 61.8% level is exactly at 99,500, so it's not suitable to chase buys directly above 99,000; we need to guard against a pullback. Of course, if you're lightly positioned and don't mind holding onto a losing position, with sufficient risk tolerance, then there isn't much to say. It's inevitable to return to six figures by year-end, and maintaining six figures is guaranteed. This week, pay close attention to the gains and losses around 95,500. If the pullback doesn't break this level, then the bulls will try to test the 102,000 level. If it breaks below the 95,000 level, we might see continued consolidation.

On the daily K-line, there are six strong bullish candles, and bullish sentiment is strong. The upper pressure at 99,500 hasn't been broken yet. The rebound is currently pulling back around 99,200, and the current price is at 98,700. It's not advisable to chase buys here; waiting for a pullback to enter long will be safer. This rebound started from 97,200, so the initial focus should be on the support level here. On the 4-hour chart, after hitting the upper resistance, we are currently in a pullback. Pay attention to the mid-line support around 97,700, which could be a good position to attempt a buy.

For Bitcoin, buy on the pullbacks at 97,700 and 97,200, with targets at 99,000, 100,000, and 100,500.

Ethereum is pulling back after reaching 3,684. The daily K-line Bollinger Bands are narrowing while testing upper resistance. For operations, focus on buying the dips intraday, with pullback levels of 3,590 and 3,560 to enter long, targeting 3,670 and 3,720. #比特币走势观察 $BTC