On Friday, the latest thoughts on BTC/ETH
Bitcoin quickly stabilized after touching the critical support level of 90800 in the early morning, and then began a strong rebound, having firmly stood near the round number of 92000. This wave of first suppression followed by rise highlights the strong bullish defense around 90800. The hourly chart shows that the moving averages are turning upwards, and the candlestick pattern is showing consecutive upward movements.
From a technical perspective, Bitcoin not only stands firm at the important psychological level of 92000 but also breaks through and stabilizes the short-term moving average system on the hourly chart, forming strong technical support. More crucially, during this rebound, the trading volume has increased, and the entry rhythm is steady without chaotic following behavior, providing a solid foundation for the continuation of the trend. The core focus of the short-term trend is the effectiveness of the support near 92000. If it can continue to consolidate and gather strength above this area, the probability of testing the resistance range near 93000 will significantly increase. Overall, the early morning pullback is merely a short-term technical correction and does not damage the core support structure below. Strong buying at low levels continues to provide support for the price, and the current market shows a positive trend of oscillation and rebound. The consolidation at the 92000 level will determine the extent of the rebound space in the future.
Bitcoin: Buy near 91500, look at 93500 and 94800.
Ethereum: Buy near 3120, look at 3200 and 3280.
