Market review:
Yesterday's BTC high: 88465, low: 85144, fluctuation of 3321 points. Yesterday's ETH high: 1658, low: 1564, fluctuation of 94 points. Yesterday was Monday.
Yesterday, BTC's performance closely matched our morning predictions. We previously pointed out that it is crucial to see if it can successfully stabilize above 88000 points and achieve further breakthroughs. On that day, BTC reached a high of around 88500, then briefly pulled back to around 86500 after the daily opening, but quickly rebounded and surged back to around 88800. However, observing the four-hour level trend, its upward momentum is gradually diminishing, indicating that the bullish strength is facing some resistance at high levels.
In contrast to ETH, it continues to be in a weak pattern. Yesterday, ETH only reached around 1660, then dropped significantly, hitting a low of 1540, forming a pin bar. As of now, the decline formed at the four-hour level has not been fully repaired. Although there is a possibility of a rebound at the daily level, ETH still hasn’t shown clear signals or trends for a rebound. However, as one of the important market indicators, its rebound trend is still worth looking forward to.
Looking ahead to today, the market focus will be on whether ETH can follow BTC’s lead and achieve a rebound. From the intraday trend, with BTC's relative strength as a driver, there is potential for ETH to continue its upward movement. Brothers should closely monitor the breakthrough of key levels to seize potential trading opportunities.
Today's Tuesday highlights:
BTC
BTC's current four-hour level shows insufficient upward momentum for the first wave. Pay attention to the intraday pullback. The first support is at the 86-87000 range, with an effective support point around 85600. If the four-hour pin bar reaches support and then counterattacks today, it could stabilize around 88000, but it will only reach around 89000. If there is no pullback pin bar in the intraday level, then today’s market could directly see the 90000-91000 range, so we can continue to look for upward momentum today.
ETH
Currently, ETH's four-hour level is in a downward pin bar market, and 1560 has not broken down. The intraday pin bar pullback has effectively been confirmed, so we can look for a counterattack today. The first resistance level above is in the range of 1660-1720. If the counterattack is strong and rebounds, we can directly look at the position around 1760. The weakness of altcoins does not necessarily mean they are finished; internal issues will eventually be resolved, and ETH can still be viewed positively going forward.
Altcoins
Recently, altcoins are expected to experience a good rebound. As long as the market continues, it is not a big issue for prices to move up by 30-50 points. The current focus is still on Ethereum. If Ethereum strengthens, most altcoins will follow suit.
