Good morning everyone, today's Bitcoin and Ethereum market analysis

1: Bitcoin, starting from the high of 102700 yesterday, began to decline, the first wave retraced to around 100300 and started to rebound, the highest point of the rebound reached around 101200 but could not hold and began the second wave of retracement, the second wave retraced again to around 99000 and did not decrease further before starting to rebound, the highest rebound again hit around 99800 but did not break through 100000, initiating the third wave of retracement. The third wave hit around 986000 but did not break down and started to rebound, this rebound reached a high of around 100300 but could not hold 100000 and began the fourth wave of retracement. This retracement directly hit the support level of 98100 and stabilized before starting to rebound. This rebound first hit the pressure level of 99800, did not break through directly, and continued to retrace, retracing only to around 99000 before continuing to push higher and breaking above 100000. As of now, the highest point reached around 101600 but did not break through and started to retrace again. Yesterday, Bitcoin's decline was relatively fast, from the high of 102700 to 98000, a drop of 4700 points.

Currently, Bitcoin's trend is still weak, mainly due to the war between Israel and Palestine. If the war does not stop, the market will not improve. From Bitcoin's weekly chart, last week's decline has already increased in volume, but the good news is that this morning Bitcoin's weekly line has closed above 100900, at least the weekly low is still above 100000, giving bulls a chance to compete. However, the technical aspect is just that; it can often fail in the face of news.

Operational advice: If the price retraces without breaking 100000, you can continue to buy on the dip and bet on a rebound. The high points can be viewed step by step: 101500, 102100, 102700, 103500, 103800. If it breaks below 99700 and does not stabilize, stop loss is required.

2: Ethereum started to retrace from the high of 2280 yesterday, hitting a low of 2110 in the early morning, dropping 170 points before starting to rebound. In fact, this wave of Ethereum's decline was ahead of Bitcoin. The key support of 2300 was breached in advance. Currently, Ethereum is basically moving in line with Bitcoin's trend and does not have its own independent market. Therefore, Ethereum will only rise if Bitcoin does not decline.

The resistance levels for Ethereum are 2250, 2280, 2320, while the support levels are 2150, 2100, 2020.

Operational advice: If Ethereum retraces to 2200-2150, you can gradually accumulate on the dip. If it breaks below 2150, stop loss is required. If it rebounds to around 2280-2300, you can choose to take profit.

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