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Analysis of BTC/ETH market on Wednesday afternoon
BTC is in a 4-hour bullish rally cycle, running above the EMA7 moving average, with a "higher low + higher high" ascending structure. The 4-hour MACD golden cross continued, the red column was amplified, the RSI rebounded from the oversold range to around 50, and the bulls accumulated momentum and there is still room for upside; 88000 translates into strong support, 93000 is the key resistance, a break will open the medium-term upside, and a technical retracement is possible if it is not broken. ETH follows the bullish trend synchronously, with the same rhythm as BTC.
Operation suggestion: BTC entry: Long in the range of 90500-91000, target around 92000-92800.
Long ETH in the range of 2970-3000, with a target around 3050-3110.
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