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Recently, the Crypto Assets market has shown new dynamics. From the hourly Bollinger Bands analysis, it can be seen that the three lines are tending to converge, and the channel is obviously narrowing, indicating that the market's short-term Fluctuation is weakening, and both long and short positions are in a temporary stalemate. This state is often a precursor to the market finding a new direction.
The recent performance of Bitcoin is worth paying attention to. It has successfully broken through the middle band of the Bollinger Bands and is currently stabilizing between the middle band and the upper band. More notably, the middle band is showing a slow upward trend. These signs indicate that the bulls have a slight advantage in the short term, and the position of the middle band is likely to become an important support point in the near future.
For Bitcoin, investors can pay attention to the pullback opportunities in the range of 112850-113750, with the upper target looking towards around 116000. For Ethereum, one can notice the pullback in the range of 3524-3576, with the upper target focusing on around 3755.
In addition to Bitcoin and Ethereum, there are several other crypto assets worth paying attention to in the market, such as BCH, MYX, ILV, BNB, and ENA. These coins may present different opportunities and risks in the recent market.
It is important to emphasize that the crypto assets market is highly volatile and carries significant risks. Investors should conduct thorough research and risk assessment before making any decisions. Market analysis and predictions are for reference only and should not be considered as investment advice. Staying vigilant and rational in this rapidly changing market is crucial.