Today's Market Analysis
A new week has arrived, last week the Bitcoin weekly chart closed with a strong upward trend. I believe those who followed the trend made some profits, but I'm sure many still incurred losses, with some daring to short and others mindlessly going long over the weekend! Have you noticed that no matter which direction you take, you're facing losses? Those who do not follow the trend will always be at a disadvantage.
Currently, $BTC is consolidating at the top, having failed to break through 105000 three times. Each time there was a spike followed by a drop, causing significant losses for many, indicating a strong resistance above. Continuous pullbacks are needed to push through, and it is expected that another spike is required to break above.
From the daily chart, the current bottom support is at 102300. As long as this level is not breached, the bullish trend remains.
As for $ETH , there's no need to elaborate; it was the strongest performer last week. It frequently spiked up and down by 100 to 200 points, behaving like an altcoin. It only started to move upward after breaking support yesterday. Today, pay attention to 2505; only if the 4-hour line stabilizes above this level will it continue to rise. The pressure above is at 2605, while the support below is at 2461 and 2420.
For intraday trading, the strategy remains to look for pullback opportunities, but be cautious of the support below.
Intraday focus: CATI FIDA WIF
