The market over the weekend has started to become sluggish. Since the weekend, the market has rebounded near the two support levels we provided on Saturday, 938 and 928. In terms of daily patterns, a top model has already formed, raising the question of whether it can drop further and whether the support of MA120 can be effective again.
Let's take a look at today's market. First, in terms of moving averages, the support provided by MA120 is still present, and it doesn't seem to be dropping in the short term. Therefore, the top model on the daily chart may be false; it could either rise again to create a top model or directly surge, which will need further discussion. Currently, the support of MA120 remains effective, and there is a trend towards a golden cross with EMA15. Even if there is a pullback later, prioritizing long positions is advised!
Today, let's take a look at the BOLL market. Following the horizontal adjustment over the weekend, there is a trend of narrowing. If there is no bullish line this week, it will likely revert to a fluctuating trend. In terms of MFI and CCI, MFI has already shown a return to a fluctuating trend, while the 100-level in CCI is still effective, so the possibility of a sharp drop is not visible at the moment. We need to wait for the bullish line this week to rise and return to a trend above 100.
In the short-term movement of Bitcoin, the 4-hour support is at 91900 and 90900, with resistance at 94800.
In the short-term movement of SOL, resistance is at 151 and 153, with 4-hour support at 142 and 138. In a volatile market, both bulls and bears can participate.
In summary, although a top model has appeared in the daily pattern, there is still no sign of a sharp drop visible on the CCI, and the support of MA120 is still effective. After the bullish line on the 22nd, it has been consolidating for almost a week. Currently, it is recommended to take a right-side breakout approach, which is safer. If there is a fluctuation, both bulls and bears can take a bite and run.