Good evening everyone, I am Xin Ya. The market volatility is not as intense as it was in the past few days.

Let's take a look at the intraday trend. Bitcoin is consolidating in the range of 89500-91500. From midnight to the afternoon, it mostly fluctuated around 91000 with very narrow movements. The trading volume is sluggish. Looking at the fifteen-minute level, the MACD and trading volume show signs of buying attempts to stabilize the price. At three in the afternoon, after a series of selling pressures, Bitcoin dipped to around 89700 and then rebounded to 90500.

We pay attention to the details. When it pierced below 89500 at four in the afternoon, it rebounded first but did not return to the 91000 level. Therefore, the purpose of the second wave of selling was merely to test the support. The stopping point at 89700 is above the widely expected 89500. This indicates that the market did not give most people who viewed the previous platform as a bottom the opportunity to enter this long position. Based on the divergence point, human nature generally leads most people's expectations to attempt to bottom out around the previous low of 89200 and the lower edge of the previous platform at 89500.

The rebound process did not recover rapidly but moved exceptionally smoothly. Looking at the hourly candlestick, Bitcoin's price is moving towards the middle band of the Bollinger Bands, with the one-hour EMA30 around this area, and the MACD histogram showing a clear pullback. As long as it stabilizes here, there is a high probability that buying support will push the price higher. It may break through 91800 and then pull back to find support at 91500. Alternatively, it may just reach the platform at 91200 and then move slowly to start squeezing positions. The trapped longs above may have jumped in last night, and we can continue to hold long positions.

The trend of Ethereum is more fragmented, somewhat contrasting with Bitcoin. However, from the doji candlestick at nine in the morning, we can see that it fluctuated around 3100, mostly running above this level. The selling pressure in the afternoon tested more than Bitcoin, but the duration was extremely short, and the recovery was quick. Overall, the situation shows that the selling pressure and the breach of key areas did not continue to exert pressure, which is already a sign of a bottoming out. Looking at the one-hour MACD fast and slow lines, there is strong contention around 3100. After touching it at seven in the evening, there was some pressure, but buying support at 3080 quickly stepped in to lift the price. This is a clear sign of resistance from the bulls. Therefore, in the future, we still hold a bullish view. The target is tentatively set at the divergence of 3180, and after breaking through, we will look at 3250. Bitcoin's synchronization is in the range of 92500-92800.

Currently, the average price of long positions is around 90000 and 3080. You can hold patiently. The pressure zone in the future may be around 93200-93500, while Ethereum is around 3258-3286. Conservatively, you can consider entering short positions around this area. Aggressively, you can start entering in batches when we reach our target range.

Colleagues, WeChat public account: Xin Ya Talks About Trading

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