Mengzhou Afternoon Analysis

The cryptocurrency market has always been unpredictable, with countless opportunities hidden between the ups and downs. Whether one can seize them depends entirely on whether they can keep the right rhythm.

On Tuesday morning, Bitcoin made quite a stir: it first dipped down to around 115,865 before stopping, then quickly rebounded, reaching a high of 117,947, after which it fluctuated back and forth within this range. As for Ethereum, it surged to a high of 3,798 in the morning but couldn't withstand the pressure, falling all the way back down to around 3,646 by noon before stabilizing.

From the current market situation, on the four-hour chart, the price has fallen below the lower Bollinger Band and has entered a rebound recovery phase, slowly approaching the middle Bollinger Band. The bullish momentum is continuously being released, and the KDJ and RSI indicators are all turning upwards, with a golden cross pattern about to appear. Looking at the one-hour chart, the price has closed with two consecutive bullish candles, successfully breaking through the middle Bollinger Band. The MACD has formed a golden cross below the 0 axis and is still moving upwards, with all moving average indicators leaning towards bullish. However, it is important to note that the J value in the KDJ has entered the overbought zone, so a slight pullback may occur in the afternoon. Therefore, in terms of trading strategy, it is advisable to focus on buying low, finding suitable low-level positions for a more stable approach.

The pancake revolves around the multi-target of 119000 near 117900-117600.
Ethereum is targeting around 3690-3660 with multiple targets at 3800#山寨季来了？ #稳定币监管风暴 .