1.6 Morning Bitcoin and Ethereum Market Analysis and Trading Suggestions

From the current chart, Bitcoin shows a clear continuation of the rebound on the 4-hour timeframe. In the early hours, the price rose steadily from the lows, briefly reaching the 94,700 level. Although it later faced resistance and pulled back, it remains above the middle band of the Bollinger Bands, which are expanding and diverging upward in sync, indicating that bullish momentum is still gradually accumulating. The medium-term trend remains inclined toward sideways upward movement.

Switching to the 1-hour timeframe, the price has steadily pushed up from around 90,790, testing a high of 94,760 before entering a technical correction. Currently, it has slightly retreated to around 93,700. This pullback is controlled and has not broken the short-term upward structure, representing a normal consolidation after a continuous rally. Observing the RSI indicator, the values across different periods are all in the strong zone of 50-70, not entering overbought territory, which shows that the market still has the potential and room for further upward movement.

Overall, the current trend is a healthy technical correction. During the pullback, volume remains moderate without significant selling pressure, and the overall trend remains in the hands of the bulls. If the price can find effective support around 93,500-93,000, it is likely to test the 95,000 level again and may further open up upward space. Trading-wise, it is recommended to focus on buying on dips, paying attention to signs of stabilization at key support levels.