Thursday, 1.8 Bitcoin and Ethereum Midday Analysis

In the current market trend analysis, the 4-hour chart shows that after a series of consecutive bullish candles, the market is experiencing a pullback. The Bollinger Bands are moving sideways, and the red energy bars continue to increase, providing momentum for a downtrend. In the short term, the bears still dominate. Observing the 1-hour chart, during the early morning hours, the market tested the bottom and formed a doji pattern, with some oscillation and slight upward correction, but lacking enough momentum to form an effective reversal. The overall trend remains in a downward channel. However, the 90,000 level shows some short-term support. Based on this, it is inferred that during the daytime trading session, the market may mainly fluctuate sideways. The trading strategy suggests going short at higher levels and long at lower levels, paying attention to resistance levels above.
Bitcoin is bullish around 90,700 with targets at 92,000; Ethereum is bullish around 3,120 with targets at 3,200.