Bitcoin hit a new low of 93388 early in the morning, within the range of 92500 and 93700 that we reminded yesterday. The previous two daily rebounds above 100,000 also found support here. As of the time of writing, the price is around 96600, still maintaining within the short-term range of 95000—98400. The recent resistance is at 97200; if it breaks through, we will continue to see 98400.
Ethereum's spike to 2605 has not created a new low, and it is still in a narrow range of fluctuations, with rebound resistance at 2920—3100—3300.
Recently, the market has been sluggish, but there are still many exchanges involved in disputes, and some are just watching.
Bitcoin
Recently, the Asian market has been pulling up, while the American market has been declining. Bitcoin's lows keep moving down, although the 4-hour engulfing pattern has returned to 95000 for consolidation, the market remains relatively weak. The analyst has consistently emphasized that rebounds that cannot effectively break through key resistance are ineffective rebounds.
The daily line has been hovering around the 0.236 support for rebounds but has not effectively broken through 0.382. However, since the spike on the 3rd, the analyst has been reminding to wait for a second probing rebound opportunity, and currently, it is consolidating sideways. If 97200 cannot be broken, new lows will be made, potentially testing the 91000 support. The current market still suggests light positions and observing or very short-term rebounds. Support: Resistance:
Ethereum
With the U.S. stock market opening, digital assets have seen a short-term pullback. The S&P 500 and Nasdaq are basically under pressure near previous highs, while the Dow Jones is still maintaining a downward channel. From a monthly perspective, these indices still show an upward momentum.
The most obvious 4-hour pattern is still the box range of 2502 to 2800—2920. The strategy remains to buy low and seize rebound opportunities, but heavy positions should be avoided.
Support: Resistance:
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