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12.24 Wednesday Bitcoin Ethereum midday analysis
The Bitcoin market is currently in a range-bound phase. According to the 4-hour chart analysis, bullish strength is gradually accumulating. Despite multiple attempts to push higher followed by pullbacks, the lows of the corrections are showing a gradual upward trend, indicating the firmness of the support level. The overall market rhythm leans towards bullishness, and this stage can be seen as a consolidation phase in the upward process. The oscillating market is essentially a process of accumulation of bullish strength. It is expected that in the future, there may be another upward climb based on the support level. Therefore, the operational strategy suggests focusing on going long when there is a pullback to the support level.
Bitcoin recommendation: 86800-86500 Target 88000
Ethereum recommendation: 2900-2880 target 2980
#BTC #ETH #BNB