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11.11
Midday thoughts
On the 4-hour chart, the price has rebounded from the previous low of $104,200 and is now consolidating. The latest candlestick is bullish with a bullish engulfing pattern. Currently, the trading volume on the 4-hour timeframe has increased compared to earlier periods, and the price is rising in sync with the volume, indicating short-term trading activity is active and the upward momentum is temporarily strengthening. However, it has not yet broken out of the recent consolidation range and no clear directional trend has formed.
Bitcoin: Around 105,000-105,500, with an outlook towards 108,000-109,000
Altcoin: Around 3,520-3,560, with an outlook towards 3,750-3,850