Good evening, brothers. Today Bitcoin has been in a downward trend all day, dropping without a feeling like a small knife cutting meat. It started to rebound around the position 95; tonight, let's see the strength of the rebound. If it can't go above 96450, it will still test downwards again. If it goes above 96450, it means this correction is over and there is potential to continue going up!
This wave only saw Ethereum holding strong, not much drop, so don't think it's doing well just because it hasn't dropped; that's because there's an upgrade benefit on the 7th providing support, otherwise it would have already leaked.
I'm not bearish on it because it hasn't risen this time; I started advising everyone to short Ethereum as the first choice since November last year. Although it's strong now, I still maintain my view that after switching to POS, Ethereum is just trash. Those who see Ethereum above 4000, give up your fantasies and accept reality!
Market analysis for tonight:
$BTC Pay attention to the position 95655 for Bitcoin tonight; only if it stabilizes above this position on the hourly level can we expect a rebound on the hourly level. The upper resistance levels to watch are around 96450-97300-97865!
If the hourly level can't stabilize above 95655 tonight, it means the rebound lacks strength. Continue to pay attention to the previous low of 951. If that breaks, then look for support levels around 95000-93700-92845! (If it breaks 95, the daily level starts to correct, and the next two support levels are opportunities for long positions.)
$ETH Ethereum rebounded after hitting the first support level during the day. Currently, the 4-hour level is in horizontal consolidation. Pay attention to the position 1833 tonight. Only if it stabilizes above this position on the 4-hour level can we consider this correction over and the market will continue to test the top of the consolidation area. The upper resistance levels to watch are around 1848-1872-1903!
If the 4-hour level can't stabilize above 1833 tonight, it means it still can't go up, continuing the bottom consolidation. If it drops, pay attention to support levels around 1815-1792-1762!
$BNB BNB hit the third support level provided during the day and is currently in a small-level bottom consolidation. Pay attention to the position 593.5 tonight. If the 1-2 hour level cannot rebound and stabilize above this position, it means the rebound lacks strength, so be careful of a second pullback. First, pay attention to the previous low of 587. If that breaks, then look for support levels around 581.5-576.3-572!
Tonight, the 1-2 hour level can only start to rebound if it stabilizes above 593.5. The upper resistance levels to watch are around 600-605.5-610!
SOL started to rebound after hitting the first support level of 145. This small-level rebound still has strength; pay attention to the position 147 tonight. Only if it stabilizes above this position on the 4-hour level can we expect a rebound on the 4-hour level. The upper resistance levels to watch are around 149-151.3-154!
If the 4-hour level can't stabilize above 147 tonight, it means the market still can't go up. For a drop, pay attention to support levels around 144.6-143-140.2!
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