Evening Chat
In the past, weekends would often decline after a prolonged horizontal trend, now weekends are becoming more active week by week, with various scams jumping around and fluctuating over a thousand points. #BTC走势分析
Actually, the market is still struggling with direction, and the movements are minor skirmishes.
The daily chart's support is at the bottom, using a horizontal movement instead of a decline.
Bitcoin is on the 9th day of this wave of upward consolidation, one week short of the longest consolidation period of 15 days. The price is oscillating in the range of 101350-105200. The average price remains stable at 103000, indicating that as long as it holds strong positions, the chance for a price breakout is still relatively high.
In the 4-hour chart, around 103200 is still a small dividing line between bullish and bearish; above is 104500, and below is 102450. I believe that breaking through these two levels will lead to significant fluctuations. Since the current price is strong, a low bullish strategy is still feasible.
Seeing the drop in the last couple of days, the market is unable to find direction.
Ethereum is still moving independently.
Ethereum has been relatively weak these past couple of days, after the positive data was released earlier and the sentiment was sustained. It is currently undergoing a normal correction, just dropping below the strong position (2550), but it is still under bullish control. If it rebounds and can hold above the low of 2535, it could rise again. A low bullish strategy can also be implemented.
Short-term reference
Ethereum's resistance is at 2535; if it breaks, aim for 2635.
If it cannot break through, consider bearish positions around 2440.
Bitcoin's resistance is at 104500, looking to continue upwards to 106000.
There is a chance it could drop back to 103200 without breaking, but it should still rise to 104500.
For now, no view on the volatility.
