5.1 Midday Insights and Operational Suggestions
Bitcoin has finally returned to yesterday's price after a night of consolidation. Today is the monthly line change, and the monthly line will also retrace. The monthly line support is at 88500.85000. For those who are trapped below, there is still an opportunity to break free this month. In the short term, we will see whether this wave continues to rise or first retraces. Currently, the double-top pattern is still in place, and the support for the retracement remains unchanged at 92800-91600. As long as these two positions are not broken, we are bullish on Bitcoin. We will see if this wave can break through the pressure at 95700. Once this pressure is broken, the target is set at the range of 98500-99500. 🈳丹 can pay attention to this range.
Ethereum retraced to defend the support yesterday and has bounced back to the current level. It is still in a double-top pattern of oscillation. The short-term retracement support remains unchanged in the range of 1750.1722. As long as this support does not 📉 break, we are bullish on Ethereum. The short-term upper pressure is at 1856. Only if this pressure is broken will the market continue to rise, with target pressure at 1898.1950. Conservative 🈳丹 should pay attention near 1950.
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