Essence! Weekend Bitcoin and Ethereum Market Analysis

After Bitcoin rose to around 109,000 yesterday afternoon, it consolidated overnight. Today, the market overall has retraced again. Yumi's short position on the Silk Road was confirmed yesterday afternoon.

Currently, from an hourly perspective, the MACD is below the level, and the moving averages are diverging downwards, indicating that there is still a risk of a short-term retracement. The market has reached the lower band of the Bollinger Bands, and if it continues to retrace, we should focus on the support level of 105,800. Today is the end of the weekend, and the market usually experiences some fluctuations in the evening. If the price can stabilize above 108,500, there may be a continuation towards the 110,000 mark next week.

Ethereum, on the other hand, has seen little volatility, with only minor fluctuations from yesterday afternoon to the early morning. The morning saw a slight increase in volatility, but overall it remained within a 50-point range.

Currently, in the hourly perspective, the MACD head for Ethereum is gradually weakening, and the RSI moving average is rising, indicating that there is a competition for price at this moment, and a short-term rebound is expected, but the trend of divergence at the top has not yet ended, and the risk of uncertainty still exists. The Bollinger Bands are contracting, and at the short-term level, the head is still dominant, so there is still a possibility that the main force will continue to break previous lows. Yumi suggests a short-term strategy of high selling and low buying within a 50-point range.

For the weekend, BTC is still fluctuating within the range of 105,800 to 109,300, and Ethereum shows signs of a downward shift in its short-term support level. Currently, the market is near the lower band of the Bollinger Bands, so we will first see if the price can push up with volume to above the mid-line — 108,500/2430. If it can change the retracement trend, it is expected to return to last week's peak. Conversely, it will lay more uncertain hidden dangers and risks for next week. Resistance levels are 109,500/2600 and support levels are 105,800/2400.

A momentary surge is certainly surprising, but the prolonged fluctuations and retracement are the real test of mentality and endurance. This is why Yumi always emphasizes the importance of remaining calm and steady in response to every change in the market. #加密市场回调 $BTC