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Evening Thoughts
Bitcoin overall showed a volatile downward trend yesterday, rebounding to around 71,423 in the morning before facing resistance and falling back, with the lowest dip near 70,458 in the afternoon. Currently, it is consolidating within a narrow range around 70,600.
The hourly moving averages are in a bearish alignment, but the 71,800-72,200 zone was previously a zone of trend reversal between bulls and bears. The current price has entered the lower end of the previous dense trading area, and a support has appeared near 70,450 with a lower shadow, indicating a short-term technical rebound demand.
Aggressive traders can rely on this support to gamble on a rebound.
Trading Suggestions:
Buy near 70,000 for Bitcoin, target around 71,500
Buy near 2,165 for Ethereum, target around 2,230