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Wednesday Early Morning Bitcoin and Ethereum Strategy and Analysis
Everyone has a beginning, and being brave to start is the only way to find success. Consideration and planning are necessary before taking action, but only action can bring real growth. The intraday bullish trend still shows strong performance. Bitcoin rebounded in the evening to recover to around 89355, and the bulls have been gradually correcting since early morning. The movement remains relatively firm, with the decline mainly occurring through time rather than space, and Ethereum is similar. It surged to around 3008 in the evening, then corrected with a pullback in the early morning. The retracement space is limited, which is within expected correction parameters. Currently, the bullish momentum remains solid, with short-term pullbacks but no substantial breakdown. Multiple bullish signals during the day indicate a good overall outlook. Bitcoin gained over 2000 points again today, while Ethereum also gained over 100 points. Entry and exit points have been clearly outlined in the previous discussion. The short-term outlook remains bullish.
After nearly two days of doji star adjustments, the daily chart has successfully tested and built a bottom at the support level. The daily structure is currently in the process of a secondary attempt at a high. On the four-hour chart, after a low-level rally, there was no strong continuation but rather sideways consolidation. This sideways movement is also a preparation phase for the bulls, representing a strong correction. Regarding the four-hour structure, it remains in a slightly bullish consolidation above the upward trendline. The price is currently consolidating in a volatile manner, testing resistance levels repeatedly. When a resistance level is tested multiple times, it tends to weaken. Therefore, the outlook favors continued upward exploration.
Trading Suggestions
In the early morning, go long near 88000-87800 for Bitcoin, targeting 90000.
For Ethereum, go long near 2950-2930, with an initial target of 3100.