Bitcoin reached a new high of 99,588 yesterday, just a few hundred points away from 100,000, and has since pulled back. It is also at the upper edge of the 4-hour ascending channel without breaking through. Previously, we mentioned that once it breaks 100,000, the next target would be around 107,000 on the weekly chart. However, with the market just a few hundred points away and not breaking the 4-hour upward trend, there are signs of a potential drop or consolidation that need to be noted.

Ethereum also saw a rebound, breaking through 3,444 and reaching a high of 3,497. Altcoins have shown significant gains, with established altcoins generally rising by a dozen to twenty points. On the 15th and 21st, during the live broadcasts, we reminded about altcoins when Ethereum broke through the range, including L2, and the staking and SOL ecosystem altcoins also provided decent gains.

Bitcoin

After reaching a high of 99,588 yesterday, it slightly pulled back, forming a small doji star. The entire segment from the 12th, when it retraced to 85,000, has been in an ascending channel, and the market has touched the upper edge of the channel before pulling back. As of the time of writing, the 4-hour ascending channel has been broken.

In yesterday's video, we also reminded that funds have been flowing entirely into altcoins, while Bitcoin has been the only one gaining previously. If Bitcoin can maintain high-level consolidation, altcoins will continue to rebound. However, if the market experiences a significant pullback, it will also drag down altcoins led by Ethereum.

Short-term support levels are 95,600 and 97,122; breaking these will accelerate the decline.

Support: Resistance:

Ethereum

As of the time of writing, Ethereum has broken through 3,444 but shows signs of a potential drop. Currently, the downward movement depends on whether Bitcoin can maintain high-level consolidation. If there is a significant pullback, Ethereum may not rule out a false breakout. In terms of altcoins, it is also necessary to pay attention to Bitcoin's pullback situation. I personally suggest looking for some altcoins that have not yet rebounded or are at lower levels, and also to set stop-losses.

**** Among these three altcoin varieties, some have broken through on the daily chart or are at the daily bottom. Depending on your risk tolerance, set stop-losses at 3%, 5%, or 7-8%. However, stop-losses must be set to prevent a significant drop in Bitcoin from collapsing the market. It is important to note that Bitcoin has gained so much previously; if it experiences a significant pullback, the extent of the altcoin corrections can be imagined.

The ETH/BTC exchange rate has rebounded back to the previous bottom of 0.034. If it can maintain above this level, the rebound of altcoins is still quite promising and worth looking forward to!

Support: Resistance:

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The article is time-sensitive and for reference only; it is updated in real-time.

Focusing on K-line technical research, sharing global investment opportunities. Public account: Trading Prince Fusu

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