Yesterday's market was another day of turbulent volatility, with Bitcoin starting to consolidate around 95600, and SOL beginning to pull back and oscillate around the resistance level of 153 that we analyzed during the day. The overall market remains choppy, leaving people puzzled.
Let's take a look at today's market. First, regarding the moving averages, it's important to note that the MA50 has started to show an upward trend, and the MA120 has also flattened out. Therefore, it's unlikely to expect a crash at this position. For a crash to occur, at least we need to first form a head pattern before a significant downturn can happen. Additionally, the MA120 has already shown a golden cross with the EMA15, so here it is preferable to look for a pullback to go long.
In the context of MFI and CCI, MFI has already turned upwards, coupled with yesterday's daily candlestick, completing synchronization. The CCI is still around 100, so it's unrealistic to expect a violent downturn here. Our primary goal is still to look for a pullback to go long.
In the short-term intraday trend of Bitcoin, the 4-hour resistance is 962, 976. Support is at 941, 930. First, try to look for a rebound near the support below.
In the short-term intraday trend of SOL, the upper resistance is 154.5, 159, and the lower support is 143.3, 138.3.
In summary, the pattern on the daily chart suggests that a violent downturn may not happen so quickly. For a violent downturn to occur, we need at least to first form a head pattern. Before that, continue to look for low long positions.