• Seeing the morning market's decline, many people may have lost confidence in bottom-fishing at 60,000. However, witnessing the rebound after the bottoming out reignited hope for the bulls. This is the common psychology of the masses, which is why those with courage and insight are more likely to succeed. The morning pullback of Bitcoin once again provided us with an opportunity to bottom-fish, and I also reiterate the notification to hold for those who should hold, and for those who haven't entered yet, seize the opportunity. From the market perspective, if we must analyze the morning trend, it's actually the big players washing the market and clearing out retail investors. This kind of market trend is commonplace, just like the multiple rebounds testing the high resistance before the sharp drop from the high last week, creating the illusion of breaking through the new high. The morning's sharp drop to lure short positions is the same. Although it dropped by 4,000 points, it rebounded by 3,000 points, and it was completed in a short period of time. Friends who just woke up and checked the position might feel that there is no significant market movement, but only by opening the market can they understand what Bitcoin has been through in the morning.

• In terms of the trend, there are signs of a halt in the daily chart, and the waterfall-like decline in the morning just happened to retest around 59,600, which is the support near the low point probed the day before. Going back a bit further, it coincides with the probing point of the collapse on April 13. In other words, the daily chart has rebounded after probing this position three times in a row, and it's a relatively large rebound. Therefore, if we take this position as the support for this pullback, we have reason to rely on it for a bullish view. Today, the first thing to look at is how much of today's decline can be recovered. In the short term, 61,800 is still the watershed for a bullish view. If it can be fully recovered, then the subsequent formation of consecutive positive days in the daily chart will inevitably continue to break through 64,800-66,800. In terms of operation, we continue to focus on being long in the low position, and tonight we'll see if we can reach 66,000.

• When Bitcoin rises, Ethereum will naturally follow suit, but the strength and magnitude of the rise may vary. Since reaching its peak earlier this year, Ethereum has been weakly oscillating downward. Even though Bitcoin showed a strong rebound today, it's clearly felt that Ethereum is somewhat weak, as if being pushed forward. However, regardless, if the bottom is confirmed, it will rise to some extent. It's just a matter of space. Intraday, first pay attention to the resistance and suppression situation around the 3,120 level. If the short term can successfully break through and stabilize, the bulls will further rebound to test upwards, with a short-term pullback to around 3,050 and a target of 3,120-3,180.

• This article is an original creation by myself, Xiao Feng. The above analysis is only my personal opinion, for reference only. Investment carries risks, so market entry should be cautious. Please indicate the source if reposting!

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