Analyst Liang Qiu: After a rapid fall of 10.8 Bitcoin and Ether, it is now in a sideways consolidation. The support is effective and there is still room for a rebound.

Bitcoin and Ethereum experienced a rapid surge to new highs yesterday, followed by a decline throughout the evening. Currently, the market continues to enter a narrow range of fluctuations. However, this significant drop after a large surge is itself a sign of trend strengthening. The trend after Bitcoin broke 120,000 is clearly stronger, so attention should be paid to the support at this key level. The U.S. government's data release has been delayed due to a shutdown, leading to a flow of hedging funds into gold and the cryptocurrency market, with gold repeatedly breaking new highs. After consolidating, the cryptocurrency market is also expected to continue its strong trend.

The daily K-line pattern shows that a long upper shadow appeared yesterday, indicating heavy selling pressure at high levels, followed by a price drop to near the previous low, forming support. In the 4-hour timeframe, the recent K-line has been weakly fluctuating, continuously producing small bearish candles and doji, reflecting cautious market sentiment. On the technical indicators, the 4-hour MACD histogram has been consistently below the zero axis, and after the DIF and DEA formed a dead cross, it has gradually expanded downward. However, it has stabilized and rebounded somewhat; if the lower support holds, it will continue to build momentum for an upward move.


Evening operation suggestion: Buy Bitcoin around 121500 to 122000, target around 124000; Buy Ethereum around 4430 to 4460, target around 4560.

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