The market currently still lacks direction, in a phase of fluctuating to find the bottom. Last night BTC was quite strong, but it returned to its pre-liberation state. ETH is relatively independent, still experiencing large fluctuations in its pullback. The daily line hasn't shown a golden cross yet. The focus is on the effectiveness of the previous lows at 103030 and 2465, with a high probability of heading towards new lows;
BTC has risen and pulled back relative to ETH. Currently, the daily line is starting to build a bottom. The daily SKDJ has crossed over, but it is still testing the previous lows at 103030 and 103000 for effectiveness. If it breaks down, it may drop to around 101500 in 5 waves on the daily line. If it doesn't break, it will likely follow a 3-wave drop on the daily line and form a W bottom, overall still grinding for a bottom, with opportunities expected after the 5th;
ETH saw a significant surge after BTC reached its target, giving an illusion of an independent market. However, it returned to the starting point in two days, still the same poor performance. Currently, the 4-hour chart may show a pullback in 3 waves, while the daily line waits for SKDJ to hit the bottom and cross over. First, we look at the previous low of 2465 and the weekly support at 2450, but it feels like it can't hold. There's a tendency to test near the 4-hour 200 moving average at around 2350. The larger cycle on the daily line is forming a W bottom, testing the previous low at 2312, with 2300 as the support and the neckline at 2700 being key points of focus, bullish or bearish;
Currently, the market should first observe the effectiveness of the previous low. If it breaks, watch for the lower support levels. Wait for ETH's daily SKDJ golden cross and confirmation of the bottom. It's best to stay on the sidelines or try small positions. Timing looks to be around the 5th;
