Good evening, brothers!
In the capital markets, economists often favor a model whose trajectory resembles that of a drunkard. This is the "Random Walk Hypothesis." Imagine a drunkard swaying left and right, stumbling as he makes his way home. The drunkard's goal is clear, but unfortunately, we can only know his destination once he arrives. This is too late for predictions. His erratic movement pattern offers little to no persuasive power regarding his goal.
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After experiencing a sharp decline last month that saw its market value evaporate by hundreds of billions of dollars, Bitcoin is struggling to seek a rebound. However, the fragile market sentiment and ongoing selling pressure are making any attempts at recovery difficult.
Despite the positive news of Washington ending the government shutdown boosting traditional risk assets, the cryptocurrency market has not seen the strong rally that was anticipated, highlighting the lingering unease among investors following significant losses.
The world's largest cryptocurrency briefly broke through $107,000 on Monday but quickly fell back below $105,000. This lackluster price performance stands in stark contrast to the rising stock and credit bond markets due to the reopening of the U.S. government, indicating that the internal momentum of crypto assets remains insufficient.
BTC: On the 4-hour chart, the price is above the middle band of the Bollinger Bands, and the price trend remains healthy.
On the daily chart, the price continues to oscillate near the moving averages, and the price trend is average.
In summary, the support level is 104,600, and the resistance level is 105,000.
ETH: On the 4-hour chart, the price continues to oscillate near the middle band of the Bollinger Bands, with a support level of 3,520 and a resistance level of 3,540.
LTC: The price continues to remain below the middle band of the Bollinger Bands, showing weakness, with a support level of 100 and a resistance level of 106.
BCH: The price continues to stay above the middle band of the Bollinger Bands, maintaining a strong trend, with a support level of 510 and a resistance level of 530.
That's all for now, good night!
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