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During the noon trading session, the market trend continues the pullback after the early session's rise. The price of BTC is under pressure and has touched a low of around 107500, where it encountered support. Currently, both bulls and bears are engaged in a range-bound battle near this level. Although Ether had higher trade volumes and surged in the early session, it subsequently pulled back significantly, with the intraday low reaching around 2454 before it stopped falling and rebounded. It is currently maintaining a fluctuating consolidation around 2470. This market trend aligns closely with our previous expectations of a rise followed by a pullback. The order placed at the Bitcoin level of 108600 in the early session has already exited near 107500, successfully locking in a profit of k points. Don't hesitate there; opportunities won't wait for you. Others are already taking action while you are still deciding what's right or wrong, and by the time you figure it out, the pot has already bottomed out.
From a technical analysis perspective, the four-hour chart shows that after the strong breakout above the upper Bollinger band during the morning session, the price closed but the consecutive pullbacks in the afternoon caused the price to quickly fall back to the middle band. It is noteworthy that the support level at the middle band is quite strong. If the price wants to initiate an upward momentum, the key is whether it can effectively stabilize above the 108000 level. Switching to the one-hour level, the price pattern shows a clear double top structure. Although both pullbacks did not break the previous low, the candlestick also shows a short-term adjustment signal changing from bearish to bullish, the overall rebound momentum remains weak, and the bearish forces still dominate in the short term. Based on the current low-level consolidation market characteristics, it is recommended to continue with a high-level strategy for future operations.
BTC can be watched in the range of 107800-108300, with a target near 106500; Ether can be watched in the range of 2490-2520, with a target near 2430. #BTC@ETH