12.4 Silk Road Morning Update

Reviewing the overnight market, BTC continued its upward consolidation pattern. After hitting a low of 92,315, it quickly rebounded and reached a high near 94,185, with a short-term fluctuation of over 1,800 points. ETH also maintained its strong performance from last night, rising steadily from around 3,050 and reaching a current high near 3,239.

From the daily chart perspective, the price has shown two consecutive bullish candles and successfully broken through the middle band of the Bollinger Bands, currently stabilizing above it. The three RSI indicator lines are moving upward in sync, clearly confirming the continuous strengthening of short-term bullish momentum. At the same time, the MACD indicator has formed a golden cross and is extending upward, indicating sustained short-term bullish momentum, and the overall structure favors a bullish trend. On the four-hour chart, the price also shows two consecutive bullish candles, and the Bollinger Bands are widening, suggesting further upward potential. Although the price is currently consolidating at a high level, this can be seen as a preparatory phase before a new round of gains, not a sign of weakening momentum. Therefore, in the morning we continue to take bullish positions on Silk Road pullbacks.

Trading Suggestions
BTC: Go long near 93,000-92,800, target around 94,500.
ETH: Go long near 3,170-3,150, target around 3,300.