The non-farm data from last night was not very different, so the overall market volatility is low, and the weekend trading is particularly light.
Yesterday, the main institutions completed a round of capital turnover, with Bitcoin's lowest retracement reaching around $100,000, and then in the evening, Bitcoin was pulled back to around $105,000. Personally, I am optimistic that after the second bottom retracement, Bitcoin will further rally.
From the four-hour level, there is significant selling pressure above Bitcoin at the $105,800 level, and strong resistance at the $107,000 level.
From the daily level, there was no significant bearish breach in Bitcoin. Yesterday, Bitcoin closed with a long lower shadow, finishing at around $105,000, indicating that the main institutions only completed a round of capital turnover, and Bitcoin also underwent a technical retracement.
Pay close attention to the strong resistance at the daily level of $107,000 for Bitcoin. The range of $109,000 to $110,000 is the area where Bitcoin could see a significant bearish breach, with particularly heavy selling pressure. Personally, I believe that in the short term, it will be difficult for Bitcoin to strongly break above and stabilize in this range, so caution is advised for potential pullbacks after any highs.
I have repeatedly emphasized that Bitcoin will not significantly breach downwards in the short term, so closely monitor the strong support at around $100,000 below. As long as Bitcoin operates above $100,000, it remains in a strong consolidation phase.
I have repeatedly emphasized that as long as Bitcoin at the daily level does not strongly breach below $96,000, the overall situation is not too problematic. The $96,000 level is the dividing line for Bitcoin's strength and weakness. I personally believe that before June 30, there is more than an 80% probability that Bitcoin at the daily level will not strongly breach below $96,000.
The $93,000 level below Bitcoin is the watershed for bullish and bearish trends.
If Bitcoin at the daily level strongly breaches below $88,000, it would mean that the current bullish retracement trend for Bitcoin is completely over.
From the four-hour level of Ethereum, the $2,530 level is the position for a bearish breach, with significant selling pressure at this level. Ethereum at the four-hour level still needs further retracement and adjustment.
From the daily level, Ethereum closed yesterday with a long lower shadow. The risk of a significant bearish breach in Ethereum in the short term is low. Personally, I am optimistic that after the second bottom retracement, Ethereum will further rally and rise.
