1.15 Afternoon Bitcoin and Ethereum Market Analysis and Trading Suggestions

Currently, Bitcoin shows a typical bullish pattern of rising and pulling back, which is a healthy technical correction. The Bollinger Bands indicate that the upper band expansion has slowed down, the middle band remains upward but with a narrowing slope, while the lower band continues to rise. Overall, the pattern presents a converging bullish opening, suggesting that short-term bullish momentum is waning and accumulating.

It is worth noting that the middle Bollinger Band has not turned downward, indicating that the underlying trend for medium to long-term upward movement remains intact. This correction can be seen as a normal consolidation after a continuous rally, helping to release short-term overbought pressure, clear out short-term profit-taking, and accumulate energy for the next upward move.

The current structure is in a correction phase within the trend, with no clear reversal signals. Although there is short-term consolidation, the overall trend remains bullish. The pullback presents an opportunity for high-quality assets to re-enter. Patience is advised, with active monitoring near key support levels, avoiding chasing highs or selling lows.

In the afternoon, consider buying Bitcoin around 95,600, with a target of 97,500.

For Ethereum, consider buying around 3,290, with a target of 3,400.