Daily Market Update 2025/05/04
📌 Today's Market Review:
🎯 $BTC has begun to pull back after a failed breakout, currently moving in a small descending channel around the support level of 95.3k. A small rebound is expected, likely reaching the upper boundary of the descending channel before continuing to drop to the lower boundary of the H2 level channel around 94.5k. Upon reaching this position, we need to observe the reaction at the lower boundary, with a high probability of a breakdown. If it breaks down, we will look for support in the lower areas around 93k and 92.
Due to the profit-taking of $VINE a few days ago, I have cleared out my altcoin positions and currently only hold a 30% position in BTC set to break even.
🎯 $ETH has also seen a failed breakout and is currently rebounding at the midpoint of a large channel, forming a H1 level high triple top structure. We first expect a drop to around 1788.
🎯 $SOL has a high triple top on H4; if it is strong, it may rebound to the upper boundary forming point E before starting to drop, if weak, it will likely drop directly.
📬 Feel free to leave a comment on the varieties you want to see, let's find opportunities together!
