Bitcoin touched the secondary high near 91850 again yesterday, facing pressure and has not effectively broken through. The risk of a short-term pullback is increasing. The longer it oscillates at a high level without breaking through, the greater the risk of a correction. There is only about 6-7% left to reach 100,000, and previously, during the large wave, there were two reductions in positions to capture the short-term market for Bitcoin.
Ethereum broke through the downtrend line yesterday but fell back near 3035 in the morning, which has short-term support. This wave of decline and rebound has not broken through 0.5, indicating weakness.
Bitcoin
The daily candlestick has been closing within the upper Bollinger Band for the past few days. Even if there is a rebound in the short term, it is only expected to touch below 95673. The daily high has oscillated for 4 days, and the divergence between volume and price indicates that this wave of rebound trend has not completely finished. Short-term attention is needed for a pullback. The 4-hour chart has formed a triangular pattern and is still oscillating. A pullback to around 85000—86666 that does not break could still be considered for a long position.
The 1-hour chart is currently still in a channel operation. If it cannot break through 91850, it will continue to push down to create a lower low before rebounding.
Support: Resistance:
Ethereum
On the daily chart, Ethereum is still oscillating around 3000. Currently, the rebound has not broken through 0.5, and the entire wave has dropped to around 0.382. If it breaks below 3000, there is a chance to retest 2860—2780.
If 3220 cannot be broken, there is a potential downward C wave on the 4-hour chart. Currently, altcoins are recovering and withdrawing liquidity, so short-term attention should be paid to pullbacks.
Support: Resistance:
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