Long time no see. After a high-level consolidation, Bitcoin has been continuously consolidating at a high of 90,000. Despite the daily divergence, it can still rise with increased volume overall. Pay close attention to effective support levels below the daily line and be cautious of high-level pin bars washing out positions. Therefore, with the current price at a high and in a sideways decline, it is advisable to mainly focus on pullbacks for long positions. In the short term, on the four-hour chart, it is possible to attempt short positions at the short-term level as the Bollinger Bands are narrowing. Focus on the range of 92,800 to 88,500. Aggressive traders may try to short at the current price to capture a downward trend. On the short-term hourly level, a small downward engulfing pattern has already formed. In the future, pay close attention to the support strength at the lower level of 88,900.

The daily chart of Ethereum shows a normal trend; it will decline if it needs to, without much deviation. Moreover, the bullish trend will not change due to a brief decline. As long as the price does not fall below 2,780 on the daily chart, the overall big trend can be managed around long positions. Do not blindly chase short positions just because the daily MACD shows signs of volume recovery; of course, the short-term level is another matter.

The overall four-hour pattern is a Bollinger Band oscillation, leaning towards a downward correction. In the next 8 hours, it is advisable to observe the oscillation range of 3,190 to 3,010. On a small short-term level, the upward resistance to watch is between 3,080 and 3,120, and there is a clear formation of a top-bottom conversion support at the 3,050 level.

This article is exclusively written by senior analyst Qin Chuan, who has researched Bitcoin, Ethereum, contracts, spot trading, gold forex, stocks, and other investment fields for many years. Currently, he mainly guides contract operations, possessing a solid theoretical foundation and practical experience. He excels in combining technical and news-based operations, focusing on capital management and risk control. His trading style is steady and decisive, recognized by many investors for his easygoing yet responsible character and sharp, decisive operations. For more real-time investment strategies, trading methods, operational skills, and knowledge about candlesticks and market trends, please follow the public account: Zhao Qin Chuan.

Disclaimer: The above analysis only represents the author's personal views and does not constitute specific operational advice. Trading based on this analysis is at your own risk. Investment involves risks; please proceed with caution.

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