1.7 Wednesday Bitcoin and Ethereum Midday Analysis

Market fluctuations should not determine asset value; a calm mindset, continuous learning, and adaptability are key to crossing cycles. Market lows often nurture new vitality, while at high levels, humility should be maintained. During volatility, holding onto your inner anchor—the steady willpower—is the true wealth safeguard for long-term holding.

This morning, Bitcoin rebounded from 92,900 to 93,700 points but faced resistance and pulled back. The support at 92,000 points has been validated. The bullish strategy this morning has already realized partial profits.

Currently, technical analysis shows that the 4-hour chart presents a pattern of two bearish candles surrounding a bullish candle, indicating a certain weak market trend, but no clear turnaround has appeared yet. The Bollinger Bands are converging, suggesting a likely continuation of sideways movement in the short term. On the 1-hour chart, after a rebound with consecutive bullish candles, it encountered two bearish candles for a pullback. The current price is near 92,900 points, below the middle band of the Bollinger Bands, showing a predominance of bearish candles over bullish ones overall. Watch for 94,000 near 92,500, Ethereum around 3,230 near 3,350.