Holding through a sharp drop is an honor badge; cross bull and bear markets to see the dawn. Keep hold of your chips and wait quietly for the main upswing wave. On Wednesday, the overall trading range was relatively narrow; Bitcoin and Ethereum are still in a strong consolidation phase. During the early hours today and the early trading session, the bulls saw a rebound and a repair: Bitcoin and Ethereum moved higher in sync—Bitcoin rebounded from yesterday’s pullback low of 73449 and currently has a highest touch near 75425; after Ethereum found support at yesterday’s early-morning low of 2301, it oscillated and built momentum upward, and in today’s early-morning rebound it recovered to around 2384.

From the current intraday analysis, at the daily level Tuesday morning closed with a long upper shadow bearish cross (doji) K-line, showing a spike-and-retreat pattern; this morning it again formed a small doji bullish K, with the K-line holding above the upper band of the Bollinger Bands, and the Bollinger Bands mouth opening upward. At the 4-hour level, it has produced an upswing wave relying on the middle band; after refreshing the high of the prior correction and selloff, it is now in the adjustment phase at the tail end of the rally. The price continues to consolidate at high levels, accompanied by a mild pullback and consolidation, and there has been no continuous counter-trend decline. On the smaller timeframe, the overall performance is biased toward the bulls being relatively strong. Therefore, after the early morning spike higher, in the short term the market will most likely continue to pull back and build energy; you can first focus on the pullback extent, and after it stabilizes, look for an opportunity to go long.

Thursday morning BTC: go long around 74000 Target focus: 75500

Thursday morning ETH: go long around 2320 Target focus: 2400

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