Bitcoin hasn't seen such a volatile weekend market in a long time. From the four-hour level, after Bitcoin failed to break through the 109,000 line, it sharply retraced downwards. This morning, Bitcoin once again retraced to the strong support level around 100,000 dollars.
Currently, at the four-hour level, there is significant selling pressure above the 104,000 dollar line, and the 106,600 dollar - 107,000 dollar range is a strong resistance at the four-hour level.
From the daily level, there is strong resistance at the 106,600 dollar - 107,000 dollar range. Personally, I believe Bitcoin will find it difficult to strongly recover this line in the short term, so beware of Bitcoin's rise followed by a fall.
We need to closely monitor the strong support for Bitcoin at the daily level around 100,000 dollars. I mentioned earlier this month that I personally think Bitcoin will not strongly break through the 96,000 dollar line before the end of June.
I have repeatedly emphasized that the 96,000 dollar line is the dividing line for Bitcoin's strength and weakness, while the 93,000 dollar line is the watershed for bulls and bears.
If Bitcoin strongly breaks through the 88,000 dollar line at the daily level, it will mean that this round of bullish retracement is completely over.
Ethereum, known as the strongest altcoin, has proven its strength. From the four-hour level, after Ethereum strongly broke through the 2,450 dollar line yesterday, it strongly broke through the 2,300 dollar line today, sharply dropping towards the 2,200 dollar line.
Currently, the 2,450 dollar line above is a strong resistance for Ethereum at the four-hour level.
From the daily level, Ethereum has broken three levels, with strong resistance above at the 2,560 dollar line.
Recently, many people were optimistic about Ethereum's strong breakout and stabilization in the 2,800 dollar - 2,850 dollar bull-bear dividing line range, but I have repeatedly emphasized that I personally do not expect Ethereum to strongly break through and stabilize at this line.
In the trading market, there are no 'ifs', only results, and the result is that I once again escaped from the relative high point of the market.
Furthermore, the recent altcoin market is in a state of lament; as soon as Bitcoin slightly turns back, Ethereum crashes down wildly, and altcoins are in a complete decline.
The cryptocurrency world has truly changed; there will no longer be the once vibrant and flourishing situation. There will only be sector rotation and strong players dominating.