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Wednesday Morning BTC Market Briefing for 1.7
On the 1-hour chart, Bitcoin sharply rebounded after dipping early this morning and is now stabilizing around the 93,000 level. Although currently below the middle band of the Bollinger Bands, the bullish dominance signal is clear, and the overall market remains oscillating with a bullish bias.
Key signals highlight strength: breaking through previous resistance levels, the Bollinger Bands' three lines diverging upward, fully opening the upward channel; volume and price rising in sync, with active trading and increasing upward momentum both confirmed. ETH is also oscillating upward, with bullish energy gradually building.
Trading Suggestions:
Light long positions on retracements around 92,000-92,500, targeting 94,000-94,500, with a breakout aiming for 95,000.