$BTC 1.9 Daily Market Analysis: Focus on the official #BTC行情分析

After the US stock market opened and fell below the 9,000 level, it rebounded to around 91,200 and started to fluctuate. Currently, it is in an upward trend. Yesterday, Bitcoin showed a oscillating downward rhythm, with a low point at around 89,200. After a rebound, it paused, and since then, it has been slowly recovering through sideways consolidation. The price has slightly recovered compared to previous levels, with minimal volatility from late night to early morning. Ethereum retraced to around 3052 last night and paused, with relatively weak support on the pullback.

In the short term, a rebound is favored, but the medium-term moving averages still exert pressure.

89,200 is an important support level below. The recent correction bottomed out at 89,200, and after approaching this moving average, it quickly rebounded, indicating strong support at this level. Recently, the candlestick pattern shows a bottoming out and rebound, with large bullish candles appearing at low levels, accompanied by increased trading volume, indicating buying interest during the decline. The 4-hour chart currently shows a structure of stabilization and rebound, but whether it can break through the MA25 resistance is crucial. If it cannot, it is likely to return to a range-bound consolidation.

On Friday morning, Bitcoin can be bought around 90,800-90,300, with a target of 92,500.
Ethereum can be bought around 3,100-3,080, with a target of 3,200.