Analysis of Big Pancake and Second Pancake
BTC 4-hour cycle trend is currently in a sideways movement, showing signs of oscillation at high levels recently, with upward momentum weakening and overall in a correction phase after a rising trend.
In the short term, the current doji pattern in the market indicates a balance of bullish and bearish forces, which usually implies the possibility of a trend reversal or continuation. Combined with the appearance of a top divergence, there may be a risk of a pullback, and it is necessary to pay attention to whether the price will continue to decline towards the support level.
Candlestick pattern: Hammer candlestick indicates potential support, while the doji indicates market equilibrium.
Support and resistance: Key resistance level at 105863, support level at 101964.
Potential buy point: 102000 close to the previous low, may form support.
Stop-loss: 100700 breaking below the previous low, confirming trend reversal.
ETH In the short term, if the price continues to drop and breaks through the support level of 2358, it may further decline; however, if it stabilizes around this price level and rebounds, it may retest the previous high of 2738.
It is recommended to observe first and pay attention to the performance at the 2358 support level. If the price stabilizes here and shows signs of a rebound, consider light buying.
Candlestick pattern: The recent black three soldiers pattern indicates strong downward momentum, and a double top pattern may form, reflecting the recent oscillating downward trend.
Potential buy point: 2360 close to the previous low forming support, this area may see buying interest.
Stop-loss point: 2300 if this price level is broken, it indicates the continuation of the downward trend, breaking the support area.
