The weekly Bitcoin chart shows a large bearish candle, and it has broken below the bottom of the pin bar. So far, there has been no clear bottom signal, with a low of 92922. The support level around 91600 to 92000 is crucial, as it is the platform support that broke down to 74500 at the beginning of the year. From the highest point, it has already dropped by 26.3% and is near the Fibonacci level of 0.618.
The US stock market also shows a false breakout on the weekly chart, so we are observing the strength of the support. This week's trend will be quite critical…
After a rebound, gold is under pressure and continues to correct. This may be similar to the previous period of consolidation for 4 months before choosing to break out. During this time, the relationship between China and Japan has been tense, and the situation between the US and Venezuela has escalated, so we need to closely monitor the impact of these situations.
Bitcoin
There is no bottom signal on the weekly chart, and there is slight support on the daily chart, but the MACD on the monthly chart has already crossed down through the zero axis. Any subsequent rebound should consider reducing positions. The daily chart has slight support, but the small platform strength is still insufficient. A significant bottom may only appear when there is a volume spike in the pin bar.
The 4-hour chart doesn't have much to say; it has been in a few days of consolidation and is still in a process of searching for a bottom. Let's be patient!
Support: 91600 to 92000
Resistance: 101516 to 107500
Ethereum
The lowest pin bar reached 3004. Although it has recovered from the previous low, the overall weekly chart still looks weak. We have been bearish since the MACD on the weekly chart crossed below the zero axis. It has already dropped 39% from the highest point.
Although there is still no clear bottom signal, we are gradually positioning for a rebound.
Support: 2800 to 2900
Resistance: 3435 to 3660
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This article is time-sensitive and for reference only; it is updated in real-time.
Focusing on K-line technical research, sharing global investment opportunities. Public account: BTC Trading Prince Fusu
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