The market on Wednesday is also about to end. Bitcoin started with a rise followed by a fall in the early morning, while the price of BTC surged strongly in the morning. After reaching the 112330 line, it faced pressure and retraced again. In the afternoon, the coin price dipped to a low of 110306. Our bearish outlook has also been validated. In the evening, the overall market once again surged to a high but did not continue, instead retracing and consolidating. The intraday trend of Ethereum is much clearer compared to BTC. It has been gradually rising throughout the day.

The U.S. stock market opened slightly lower in the evening, and the market is once again caught in a sideways consolidation phase. The coin price continues to fluctuate around 4600, and the Bollinger Bands on the hourly chart are further narrowing. The range is also gradually tightening, creating a situation that resembles the calm before a storm. Therefore, friends with open positions just need to be patient and wait, calmly observing the changes. The future trend will guide us to follow the trend and act accordingly.