On 25/05/29, the upward trend of Bitcoin was broken, and the rebound could not break through 110,000. Attention should still be paid to the risk of correction.
Recently, both the news and the market have been very boring. Bitcoin has continued to show high-level oscillations, and the upward trend has been broken. Comrade Jianguo has postponed the tariff negotiation period with the East and the EU. The Bitcoin conference in the past few days saw little correction, but there was nothing substantial.
The Bitcoin index rebounded to 0.886 after a small correction and continues to rise; it remains uncertain whether it can break through the previous high, but there is still upward momentum in the short term.
Bitcoin
The gentleman started to remind everyone not to chase after the price after the Bitcoin rebound at 0.886 due to the persistent daily top divergence. The upward trend line has been broken, with key support at 106,000, which carries a risk of breaking down. Since the 23rd, there has been a reminder of a false breakout below the Fibonacci level of 1.13 that is under pressure and falling back.
It cannot be ruled out that there is a possibility of maintaining a narrow oscillation before a rebound.
Support: 94,000—96,000—100,000
Resistance: 110,000—112,000
Ethereum
The ETH/BTC exchange rate has seen a daytime rebound. Ethereum's daily chart broke through but was brought down by Bitcoin in a false breakout. The key still depends on whether Bitcoin can hold at 106,000.
Ethereum's daily chart has formed a converging triangle, and we are still looking to see if it can continue after the volatility. If Bitcoin breaks, Ethereum will also need to adjust well to continue rising.
Support: 2,100—2,200—2,300
Resistance: 2,856—3,200—3,600
