Morning Thoughts

Bitcoin broke out of the bottoming pattern in the early hours, dropping to around 76,900, while Ethereum retraced to the 2280 level; currently, Bitcoin has recovered above 78,000, although the rebound momentum is relatively weak, it also rose back to around 2630. The early morning target of around 77,500 was successfully fulfilled again. Looking back at yesterday’s overall setup, there were three Dodo trades, one of which encountered a spike that swept out 300 points outside the stop-loss, while the other two Dodo trades all successfully stopped the loss, totaling nearly 2000 points in gains. From a structural perspective, the midnight bottoming and rebound did not change the overall pattern; the lower levels have basically stabilized after falling, and the downward correction is gradually ending. The subsequent strategy remains to follow the low buy-in.

　　From the weekly chart perspective, the overall strategy still does not require major adjustments. The market sentiment continues to show strong consecutive bullish days, with the current phase oscillating back and forth. In the context of a larger timeframe, this is essentially a correction and accumulation phase for the head pattern, and even if there is a pullback, it does not change the overall upward trend. Although the daily and smaller cycle charts are oscillating, they are still normal retracements after a rally, with the retracement lows gradually rising, and the market recovering at a relatively fast pace. Therefore, during subsequent pullbacks, it is still advisable to follow the dips and buy, maintaining the short- to medium-term bullish outlook.

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