Market Brief: Bitcoin and Ethereum retrace as prices correct, a good opportunity for early long positions

Yesterday at midnight, the cryptocurrency market experienced a collective correction, with Bitcoin sharply dropping from the 89845 level to a low of 85073 in the early hours; Ethereum also came under pressure, falling from a high of 3145 to around 2890. Both major cryptocurrencies are currently in a technical correction phase.

Analyzing the market structure, the daily chart shows that the price faced strong resistance at the 9万 (90,000) level and pulled back. This is a technical adjustment within the upward trend and fundamentally a healthy market consolidation. The key support acts as a mid-term bullish/bearish dividing line; as long as it holds, the overall upward channel remains intact. This correction has effectively absorbed short-term overbought pressure and reduced some of the floating longs, thereby preparing momentum for subsequent gains. The hourly chart has already shown clear rebound signals. Early trading should primarily focus on low-position longs.

Today’s morning trading strategy

Bitcoin: Enter long positions in the 85500-86000 range, with a target near 88000
Ethereum: Enter long positions in the 2930-2950 range, with a target near 3050