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The crypto assets market showed an impressive trend on Monday evening. Bitcoin demonstrated resilience after experiencing a pullback, hitting a low of $119,345, and then began to rebound. Close to midnight, its price climbed to a high of $120,799, completing a remarkable recovery. Ethereum's performance mirrored that of Bitcoin, as it also started its rebound journey after dipping to a low of $4,166, currently reaching a high of $4,366, showing a clear rise.
From a technical analysis perspective, the four-hour chart shows that after experiencing three consecutive bearish pullbacks, the market has displayed clear signs of a bottoming out. As the price stabilizes and begins to rise, the bearish momentum has noticeably weakened, and multiple technical indicators have started to release positive signals. This indicates that the extent of the short-term pullback has been limited, and the overall bullish structure remains solid. The current pullback can be seen as a normal adjustment within the rising trend, representing a healthy accumulation process.
The one-hour chart shows that the market has begun its rebound path with three consecutive bullish candles. Although there is some selling pressure at the mid-Bollinger Band level, temporarily suppressing the upward momentum, it has not changed the overall trend. The price continues to maintain a slow but steady rise, though the upward pace is slightly moderate.
Overall, the market still leans towards bullishness. Investors may consider positioning long orders near the pullback support levels, in line with the current bullish main trend. For Bitcoin, the support level around 118,500 USD can be monitored; while for Ethereum, the support level around 4,270 USD can be observed.
However, investors should bear in mind that the Crypto Assets market is highly volatile, and any investment decision should be based on a thorough risk assessment. The market environment is constantly changing, and timely adjustments to strategies are crucial.