Previously, the market was dominated by bulls, with both the daily and four-hour charts showing strong upward momentum. The daily chart has recorded consecutive gains, recovering from pullback levels, while the four-hour chart's candlesticks have broken through the upper Bollinger Band into a strong zone. However, the market is not without its challenges, as recent trends have entered a new phase. From the four-hour chart, the market still maintains a fluctuating upward structure, with bullish momentum continuing to dominate. However, the previous key resistance levels act like a roadblock, creating strong pressure on the coin price, causing it to enter a reasonable correction and repair range. This is a necessary part of healthy market operation, helping to release profit-taking pressure and allowing bullish momentum to accumulate again. After the brief pin bar event ends, the market is likely to resume its fluctuating upward trend. However, short-term fundamental news, such as policy regulation and major industry events, may have a strong impact, requiring close attention. Four-hour support and trend: Despite the pressure, the oscillating upward structure remains solid, and the pullback is a minor interlude in the upward process. The market is expected to regain its upward momentum after the pullback, and the bullish dominance remains unchanged. Hourly support is clear: on the hourly chart, the price of the coin has stopped falling after descending to the vicinity of the middle track, showing significant support from the middle track. Reversal signals from technical indicators, such as the MACD golden cross and KDJ turning upwards, will provide support space for the coin price below, and the likelihood of deep declines is low, providing an opportunity for low long positions.
Zhiming suggested Buy near 106000-106500, look at 107000-107500. The posture is around 2530-2510, looking near 2570-2600.
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6.17 Zhiming Morning Analysis and Recommendations
Previously, the market was dominated by bulls, with both the daily and four-hour charts showing strong upward momentum. The daily chart has recorded consecutive gains, recovering from pullback levels, while the four-hour chart's candlesticks have broken through the upper Bollinger Band into a strong zone. However, the market is not without its challenges, as recent trends have entered a new phase.
From the four-hour chart, the market still maintains a fluctuating upward structure, with bullish momentum continuing to dominate. However, the previous key resistance levels act like a roadblock, creating strong pressure on the coin price, causing it to enter a reasonable correction and repair range. This is a necessary part of healthy market operation, helping to release profit-taking pressure and allowing bullish momentum to accumulate again. After the brief pin bar event ends, the market is likely to resume its fluctuating upward trend. However, short-term fundamental news, such as policy regulation and major industry events, may have a strong impact, requiring close attention.
Four-hour support and trend: Despite the pressure, the oscillating upward structure remains solid, and the pullback is a minor interlude in the upward process. The market is expected to regain its upward momentum after the pullback, and the bullish dominance remains unchanged. Hourly support is clear: on the hourly chart, the price of the coin has stopped falling after descending to the vicinity of the middle track, showing significant support from the middle track. Reversal signals from technical indicators, such as the MACD golden cross and KDJ turning upwards, will provide support space for the coin price below, and the likelihood of deep declines is low, providing an opportunity for low long positions.
Zhiming suggested
Buy near 106000-106500, look at 107000-107500.
The posture is around 2530-2510, looking near 2570-2600.