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The crypto market has been quite turbulent these past few days, but after significant fluctuations, it has finally shown some improvement. Bitcoin and Ethereum stabilized when they dropped to critical bottom positions, and now they are slowly climbing out of the sluggish zone. The short-term adjustments seem to have come to an end, and the upward trend amidst the fluctuations is quite evident.
Looking at the four-hour K-line, both of these mainstream coins are currently near the upper band of the Bollinger Bands. Bears have tried several times to push down, but selling pressure is clearly weakening, the key support level is holding steady, and the upward channel remains intact. The rhythm of the bulls' rebound has not been disrupted.
In terms of operation, it is recommended to focus on making long positions at lower levels, and to enter the market once the bottom support range is accurately identified.
- In terms of $ETH : the support zone from 103800 to 104500 can be considered for long positions, with the initial target set at 106500-107500. If this range is broken, higher targets can be considered.
- $BTC : Look for opportunities to build long positions in the range of 3490 to 3530, with the upper target set at 3600-3680. Remember to set stop-loss strictly and control risks well.
Market sentiment is recovering, but volatility remains. It's most important to proceed steadily and cautiously.