I. Fundamental Analysis

Conveying the trading philosophy, enjoying a wise life.

Whale Movements: From the dynamics of whale holdings, the number of Bitcoins held by the top 100 addresses showed less change yesterday compared to the day before. Overall, there is a net outflow, with a net outflow of 25 Bitcoins. Among them, the 64th Bitcoin holder reduced their holdings by 607 Bitcoins.

This phenomenon indicates that the demand for accumulation among the top 100 whales has not yet emerged, which means that the Bitcoin price has not yet bottomed out. As important participants in the market, changes in whale holdings often reflect potential market trends, and students need to closely monitor this dynamic.

ETF Data: Yesterday, Bitcoin ETFs experienced another net outflow. We have repeatedly emphasized the issue of ETF outflows; the day before yesterday saw an outflow of 400 million USD, the day before that 100 million USD, and yesterday 41 million USD. The continuous outflow indicates that Bitcoin has not yet reached a strong low, and students need to patiently wait for the opportunity to buy at the bottom. As prices continue to decline, we are getting closer to our expected bottom point, and everyone should be well-prepared.

II. Technical Analysis Interpretation

Bitcoin: The current price of Bitcoin on the daily chart is 77,000 USD. From the daily chart perspective, Bitcoin is operating along a dual channel that we drew a long time ago, with the reference point being after Bitcoin broke the 90,000 USD level. Currently, Bitcoin has reached the support level of the secondary line.

Yesterday, we emphasized the support around 78,000 USD; however, the daily closing formed a bearish candle with a long upper shadow, indicating significant selling pressure at this position. The high point to which the price rebounded is exactly the important resistance level of 82,500 USD that we previously mentioned, showing clear selling pressure.

Currently, Bitcoin has broken below the previous low of 78,000 USD, with the current lowest point at 76,600 USD, and it has also broken the secondary line. Overall, Bitcoin is still looking for support below.

Jiu Ge believes that the most likely support levels are two: the first is the range of 66,000 - 65,000 USD, which is the lower boundary of the channel; the second important target is 75,000 USD, where the 50-week moving average is located. In past movements, Bitcoin has seen pullbacks at 25,000 USD and 60,000 USD after breaking the 50-week moving average, and this is the third time approaching the 50-week moving average.

Typically, the 50-week moving average has strong support, so at the 75,000 USD level, there is a high probability of a brief support and rebound. However, if 75,000 USD cannot hold, Bitcoin's price will directly drop to 66,000 USD.

From the hourly perspective, Bitcoin has broken below the 15-minute channel for the day, with the lower boundary of that channel at 80,000 USD. Further down, the lower boundary of the daily channel is at 74,000 - 75,000 USD, which is consistent with our previous judgment. This further validates our analysis of market trends, and students can refer to these key levels when formulating trading strategies for intraday trading.

Ethereum: Yesterday we mentioned that Ethereum broke 2,100 USD, and now the price has dropped to 1,800 USD, down 300 points, approaching the key level of 1,500 - 1,600 USD that we previously discussed. The 1,500 - 1,600 USD range is seen as an important entry opportunity, and for students with funds, now is the time to start gradually buying Ethereum. As the price continues to approach, this potential buying point is becoming increasingly worth paying attention to, and students should seize the opportunity.

SOL: We previously analyzed that if SOL broke the lower boundary of the channel, it would continue to decline. Yesterday, SOL closed below 112 USD, which aligns with our expectations. Next, SOL will continue to drop. After drifting the channel, we can see that the 85 - 82 USD range will be an important ambush point. Students can pay attention to SOL's performance in this range to find suitable trading opportunities.

ADA: Essentially, it has returned to the secondary line near 0.60 USD, with support below at 0.58 USD. If the secondary line is broken, the price may drop to around 0.45 USD. At the current position, ADA is getting closer to the bottom, and an excellent buying point is about to appear. For students interested in ADA, this is an investment opportunity that should not be overlooked; they need to closely monitor price changes and be ready to enter at the right time.

This week, the cryptocurrency market is experiencing significant movements. When prices drop to the key levels we analyzed, students will have the opportunity for a decent short to medium-term rebound.

For more information, you can follow our media account [Jiu Ye Crypto Theory] or contact our assistant to join the VIP group. You can also gain access to our bottom-fishing and top-exiting column content by sharing, commenting, and liking.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。