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Morning Analysis
Bitcoin 4-hour: Continuous bearish candles with rapid retracement, multiple tests of support followed by narrow-range consolidation at lower levels. The sideways movement is a technical correction after a pullback, with sufficient support below; the Bollinger Bands are continuously narrowing, and the consolidation phase will indicate a direction once it ends.
Hourly chart: After breaking below the lower band with a large bearish candle, a two-candle rebound occurred. The long shadow indicates intense battle between bulls and bears. The bearish momentum is weakening, and the KDJ lines are converging with a potential bullish crossover. Short-term outlook is firmly bullish, and a pullback to add positions is recommended.
Trading Suggestions
Buy long near 88,300-88,800 with targets at 90,300-90,800
Buy long near 2,890-2,920 with targets at 3,090-3,120