Morning Thoughts

Yesterday, the overall Bitcoin was relatively weak, after all, the retracement strength indicates weakness.
The daily chart shows a pattern of rising highs and falling lows, with an unsuccessful attempt to break higher.
Although there are signs of resistance, based on the overall retracement performance, it has not broken the support level.
The overall long-term cycle still remains somewhat sluggish.
Since the daily chart broke previous highs consecutively, it has entered a series of downward adjustments.
Currently, it has been adjusting for two days, and if the strong momentum continues, it is unlikely to do so more than three days.
Therefore, today's adjustment is most likely the final day of correction.
After confirming support with a lower shadow pattern, the downward trend still indicates that a rebound is imminent.
Since the daily chart has peaked, the retracement compared to the upward trend still does not suggest a break of the long-term upward pattern.
The short-term pullback has halted the rise, returning to a correction zone and cycle.
First, correct, and after the correction is complete, proceed with the Bollinger Bands indicator.
Personally, I believe this retracement is a good opportunity to grasp a wave of Bollinger Bands for a swing trade!

Trading Suggestions

　　Bitcoin around 79,000–79,500, target 81,000

　　Ethereum around 2,240–2,250, target 2,320