Midday Market Analysis:
In the afternoon, the market continued the previous correction rhythm, with prices probing support below the 70,000 mark again. Although there was a quick drop during the session, it did not result in a valid breakdown, and it quickly stabilized and rebounded, currently returning to oscillate around 70,000. From the market performance, the buying support below still exists, and the strength of the bears has weakened.
From an hourly perspective, after a continuous decline, multiple indicators are in a clearly oversold range, short-term repair demand is gradually increasing, and rebound momentum is beginning to accumulate. Moving forward, the market is more inclined to stabilize first before repairing, primarily oscillating with a slight upward bias.
In terms of operations, it is recommended to avoid blindly chasing shorts; the current position has effectively stabilized for Bitcoin and Ethereum, and a small position can be taken long to bet on a rebound!
Intraday focus: KAT M ESPORTS BLUAI XNY