Wednesday morning Bitcoin Ethereum market analysis and trading suggestions

Bitcoin is currently engaged in a tug-of-war around 92400, having quickly rebounded earlier to form a strong bullish candle, followed by a rapid pullback that created a large bearish candle. This structure of "bullish engulfing" quickly covered by "bearish" reflects the intense competition between bulls and bears in the current region. The market then entered a high-level consolidation phase, with the volatility gradually narrowing, and the current price is gradually converging near the middle band of the Bollinger Bands.

From the KDJ perspective, the three lines are currently hovering around 50, overall in a balanced area, but the J value has shown a slight upward turn, indicating signs of short-term bullish momentum building up again. In terms of MACD, the DIF line continues to run steadily above the 0 axis. Although the histogram shows red bars, it still falls within the bullish control range, and the trend has not fundamentally reversed.

Comprehensive judgment indicates that the short-term trend remains dominated by fluctuations, with volatility gradually contracting. If the price can effectively break through the upper Bollinger Band resistance, it is expected to open up upward space, with the first target looking towards the 93013-93962 range; conversely, if it falls below the middle track support, it may further test the 91235-90346 area downwards.

In terms of Ether, the key point is whether it can stabilize at the 3070 position.
If effective support can be obtained here, the pullback situation is expected to ease, and it may test the 3100-3140 range again; if this position is lost, the adjustment pattern may continue, with the next support focusing on the 3040-3000 area.

Overall, the market is still in the accumulation phase before choosing a direction, and the situation of key levels will determine the rhythm of the next stage.
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