Morning Thoughts

Bitcoin broke out of the bottoming pattern and rebounded overnight, with the lowest point around 76,900. Ethereum also retraced to the 2280 level; currently, Bitcoin has recovered above 78,000. Although the rebound momentum is relatively weak, it has also risen back to around 2630. The early morning target of around 77,500 was successfully fulfilled, reaffirming the bullish outlook. Looking back at yesterday’s overall setup, there were three buy operations, one of which encountered a spike and swept out 300 points outside the stop-loss, while the other two trades were all successfully closed for profit, totaling nearly 2,000 points. From a structural perspective, the bottoming and rebound overnight did not change the overall pattern. The lower support levels have basically stabilized, and the downward correction is gradually coming to an end. The subsequent strategy remains to follow the low buy-in approach.

From a weekly chart perspective, the overall outlook still does not require major adjustments. The market sentiment continues to show strong consecutive bullish days. Currently, the price is oscillating within a range, which in the larger timeframe is essentially a correction and accumulation phase for the bullish trend. Even if there is a pullback, it does not alter the overall upward trend. Although the daily and smaller timeframe charts are oscillating, these are normal retracements after a rally, with the lows of the pullbacks gradually rising. The recovery speed of the market is also relatively fast. Therefore, during subsequent pullbacks, it’s still advisable to follow the buy-in strategy, maintaining the short- to medium-term bullish outlook.

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