Bitcoin's recent rebound is still weak. On the 9th, the analyst mentioned that it is still in a bottom-testing process, rebounding to around 107,500 before continuing to decline. This is also testing the weekly EMA52. Since the rebound at the end of 2022, there have been tests of the EMA52, and currently, this is the fourth wave. Assuming it can hold, it will need 3-5 weeks of adjustment. The weekly MACD continues to grow below the zero line.
Ethereum's weekly MACD crossed below the zero line, indicating risk, and this continues. The weekly also pierced the EMA52, with two sets of double bullish candles surrounded by a bearish candle on the naked chart. On the daily chart, we see a rebound strength as it falls back to around 3057.
U.S. stocks had a pullback last Friday, warning of a false breakout, but this week the rebound has returned, with the Dow Jones index reaching new highs…
Bitcoin
The recent market fluctuations are not significant and will continue for a while. The rebound strength is weak. The 4-hour ascending channel has broken down, and if it cannot regain its footing, it cannot be ruled out that it will test the 98,888.8 range. Here, we only need to focus on whether this support can hold or if it breaks down and can recover for a bullish opportunity.
In the analyst's view, there is still a risk of further short-term declines. It is better to patiently wait for a bottoming and recovery opportunity and not to operate frequently in the current market. Support: 98,888 to 100,000
Resistance: 107,500 to 112,000
Ethereum
On the daily chart, the last three days formed a door, and the last two days showed a doji star. The rebound strength is still weak, and a right-side entry signal is needed for a better rebound.
The 4-hour ascending channel has broken down, and we continue to look for a pullback in the short term, with support at 3057 to 3200.
Support: 3057 to 3200
Resistance: 3680 to 3920
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The article is time-sensitive and for reference only, updated in real-time.
Focusing on K-line technical research, sharing global investment opportunities. Official account: BTC Trading Analyst Fusu
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