The daily K-line reached a high of 3283 and a low of 3165 during the session. The EMA moving averages continue to converge towards the predetermined point. Currently, the price has retraced to the lower boundary of the trend support. Based on the contraction pattern, the market is expected to establish a dense trading zone around 3200. The short-term momentum of MACD shows signs of weakening, with DIF and DEA narrowing at high levels. The middle band of the Bollinger Channel at 3180 demonstrates support, while resistance at the upper band focuses on the 3400 level.

The four-hour chart shows a suspected U-shaped transition structure. After the price fell from around 3350 to near 3165, there is a potential for a rebound and consolidation back to the 3350 area, possibly forming a head and shoulders bottom pattern under a bullish divergence. The MACD green bars continue to shorten, with DIF and DEA converging below the zero line. Overall, the price has moved to the lower boundary of the box, situated in a key mid-term technical support zone, making a corrective upward move technically necessary.
It is recommended to go long around 3170 and 3140, with the first target at 3280, and a breakout to 3400.
$BTC $ETH #Crypto market correction