Meigu completed a 0.886 retracement and today gapped down, fully aligning with the expectations of the gentleman mentioned earlier. The Nasdaq fell by 0.96%, the Dow Jones dropped by 0.63%, and the S&P declined by 0.78%, marking the fourth day of retracement, down 3-4% from the peak.
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Bitcoin experienced a short-term plunge influenced by news, and if the rebound cannot reach new highs, there will be a need for a retracement. Gold continues to oscillate at high levels, and more time is needed here. The U.S. dollar index touched the lower trend line and continues to decline, and it seems likely to reach new lows.
Bitcoin
The weekly chart touched the BOLL middle track under pressure; if the subsequent rebound cannot reach new highs, watch for a possible retracement to the middle track, which is around 94,000—96,000. Of course, if it continues to break through the high point, there will be further highs.
Daily chart shows a shark pattern; the 0.886 breakout continues to pull down to below 1.13. Given the influence of Meigu, pay attention to correlated retracements, with key support at 106,000; if it falls below this, there will be opportunities.
Support: 100,000—106,000
Resistance: 113,000—114,000
Ethereum
Today, it reached a high of 2734, facing resistance at the previous high point. If it cannot break through this week, it will continue the weekly doji star and oscillate. The retracement still looks bullish and there will be opportunities for catch-up, with a need for a rebound in the ETH/BTC exchange rate.
Support: 2100—2200—2300
Resistance: 2856—3200—3600
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The article is time-sensitive and for reference only, updated in real-time.
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