Morning Thoughts

In the early hours, Bitcoin surged out of a dip-and-recovery move, with the low probing down to around 76,900. Ethereum synchronized with a pullback to the 2,280 area. Currently, Bitcoin has already recovered above 78,000. Although the rebound strength is a bit weak, it has also climbed back to around 2,630. The early-morning target near 77,500 was given and has once again been successfully carried out, confirming the plan. Looking back at yesterday’s overall setup, there were three buy operations. One of them encountered a wick spike and wiped out (swept) more than 300 points; the other two buys were all successful in stopping the run, for a total of nearly 2,000 points of space captured. Structurally, the midnight dip-and-recovery did not change the overall pattern. The lower low area has basically stopped falling and stabilized, and the downward correction is gradually coming to an end. For the next phase, the outlook remains the same: continue following with low-buys.

From the weekly timeframe perspective, the overall plan still does not need to be adjusted much. Market momentum continues to maintain a strong streak of consecutive bullish days. At this stage, the market is characterized by back-and-forth oscillations. Placed within a larger trend context, this is essentially a correction-and-accumulation phase for the bullish move. Even if a pullback occurs, it will not change the overall upward trend. While the daily and smaller-cycle charts still show oscillations, they are still normal retracement corrections after a rally. Moreover, the retracement lows are continuously being lifted, and the recovery speed is relatively fast. Therefore, when the pullback comes next, you can still follow through with buys first, and the short- to medium-term upside expectations remain unchanged.

Trading Suggestions
Buy directly at Bitcoin 77,800–77,300, target 79,500–80,000
Buy directly around Ethereum 2,300, target above 2,400