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Midday Thoughts
Bitcoin experienced brief bearish pressure early morning, but failed to break lower with effective volume. Support at lower levels is strong, with key level buy orders showing clear absorption. The price action is oscillating within a range with a rising center of gravity, indicating bulls remain engaged and are digesting selling pressure from above. The movement resembles a retest and accumulation pattern, with insufficient continuation for the downside exploration. Lower support remains solid, so we should continue favoring low-level longs in the coming market!
Operation Suggestions:
Bitcoin around 70000 - Target around 71500
Ethereum around 2030 - Target around 2100