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Based on the four-hour chart, this wave of market movement is quite interesting. After breaking through the upper band, the price was hammered back down, now pulling back below the upper band, and the overbought heat has finally been released a bit. But don’t rush to be bearish; the overall trend is still steadily moving within the upward channel, with the middle band continuing to rise, and the bullish pattern remains intact. The market still shows a relatively strong performance.
Looking at the hourly chart makes it even clearer. The previous three bearish candles were followed by two bullish candles to rebound. The Bollinger Bands continue to expand upward. The upper shadow of this candlestick is quite long, indicating there is indeed pressure to be absorbed above. The short-term upward momentum has indeed slowed down, but the support below is still very solid. The upward trend has not been broken, so maintaining a long position on dips remains the safest approach.
Trading strategy:
BTC: Look for long opportunities in the 91800-92200 range
Target near 93500
$BTC Ethereum: Enter around 3140-3120
Target near 3250
Overall, corrections are opportunities, and pulling back to support signals a good time to go long. Stay patient and wait for higher levels.