Monday Afternoon Bitcoin and Ethereum Market Analysis
Why was Bitcoin so strong on Monday morning? It's simple, after a whole weekend of low volatility, a large amount of eager capital to participate in trading could no longer hold back. I personally believe that the cause of this was a wave of surge caused by institutional reallocation or spot buying last night. During the subsequent pullback, short-term high-leverage shorts gradually entered the market, followed by short-term high-leverage longs... In the fierce battle between bulls and bears, we will see which side the spot leaders choose to assist...
Currently, the support below can refer to the position near 103800. If the 4-hour closing entity does not break below this position, the market will continue to push higher. The upper target resistance can refer to the positions near 105800-106500-107200. If the 4-hour closing entity breaks below the level of 103800, this wave of 4-hour rise will end, and the lower target support can refer to the positions near 102500-101500-100700.
