From last night to today, Bitcoin first surged above $107,000, but after failing to hold that level, it dropped again. This morning, it is preparing to attempt this key position once more. Ethereum briefly fell below $2,450 during the night, but after a technical rebound, it returned to oscillate in the $2,500-$2,550 range this morning.
The current market situation is quite interesting. Looking at the daily Bitcoin chart, both bulls and bears are locked in a fierce battle, and the narrowing Bollinger Bands indicate that short-term volatility may decrease, but the moving averages still show a bullish arrangement. However, the RSI on the four-hour chart indicates that it is somewhat overbought, so we need to see if the trading volume can keep up.
On the Ethereum side, it is following Bitcoin to repair the market. On the hourly chart, it is rebounding step by step like stairs. Although the MACD shows a golden cross, the strength is weakening, and there is significant resistance in the $2,580-$2,650 range. To break through, increased volume is necessary.
Currently, there is a significant divergence in the market; some believe a correction is due and are watching the support levels below, while others think the moving average support is still effective and that a breakout opportunity may arise. In my opinion, during such times, it’s really important to be cautious; don't use too much leverage and be ready to adjust strategies with the market. After all, the current movements of Bitcoin and Ethereum are like walking a tightrope, and one misstep can lead to a fall.
