Bitcoin's weekly and monthly closing is approaching, with the weekly likely to close as a doji star, and the monthly showing a continuous four-month rise, reaching a historical high. In the short term, there was a false breakdown on the daily chart that was recovered, which aligns with the expectations. Previously, the target was to drop to 114,000 to fill the CME gap, but it only fell to around 114,700 before rebounding, with the current price around 118,000.
Ethereum is closing as a doji star, with this month showing a large bullish candle with an increase of over 50%. The weekly is likely to close as a doji star, but the pullback is relatively weak, and it has risen again above 3,800. If it breaks through 3,860, there is a chance to continue challenging the resistance at 4,000 to 4,100.
Bitcoin
The daily chart shows a volume increase in the decline, with a short-term false breakdown recovering to a low of around 114,700, not fully retesting the CME gap, which is a relatively strong performance. The daily MACD is still below the zero line with the fast and slow lines crossing; we are waiting for the MACD histogram to cross the zero line.
The four-hour chart has formed a descending wedge, with a triangular convergence recovering, rebounding to the downside of the descending trend line under pressure, and we are waiting for a pullback to enter long.
Support: 114,700—116,000
Resistance: 119,000—121,000—123,000
Ethereum
Ethereum has had four consecutive bullish weeks, and this week is closing with a doji star. Next, we will see if the weekly converging triangle can break the resistance at 4,000 to 4,100, which would provide an opportunity to challenge the new high of 4,872 or even reach a new high of 6,000.
The pullback in Ethereum is relatively weak, and it has once again broken through 3,800. The four-hour chart has formed an ascending triangle, so pay attention to the breakout situation at 3,860.
Support: 3,500—3,760
Resistance: 3,860—4,000—4,100
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