In the early hours of this day, the encryption currency market saw significant fluctuations, and the price of the big cake broke through the key support level that had been held for the past half month, declaring that the previous sustained range-bound pattern was completely broken.

Although there is a clear downward pressure on prices in the short term, the market's bottom-fishing funds are performing very strongly. After the price of the big cake broke below the support level, it quickly triggered a large number of bottom-fishing buying behaviors, prompting the price to rebound rapidly to near 95000. This phenomenon fully demonstrates that the bullish forces in the market are still active, and it is highly likely that prices will continue to rise in the short term.

From a technical analysis perspective, the current price rebounded to around 95000, and the volatility gradually trended towards stability, showing a certain sign of stabilization. Based on this, the intraday trading strategy can consider buying on dips. During the upward price process, first focus on whether the key resistance level of 97000 can be successfully broken through, if so, further look towards 98500.

However, it is important to note that if the price rises to around 98500 and fails to effectively hold that level, the market is likely to seek support again. Therefore, investors must strictly control their positions, set stop losses reasonably, and it is recommended to set the stop loss below 94000 in order to effectively control the risk. BTC's short-term resistance levels for the day: 98500--97000, support levels: 95000--94000
ETH short-term upper resistance: 2850--2790, lower support: 2630--2560