With the truth of Yi and the peace, will BTC soar to 120,000?
Key signals from the technical perspective
1. Overall trend
Bears dominate but there is demand for a rebound: The daily chart has continuously closed in the red (BTC has fallen from a high of $110,000, ETH from $2,880), indicating strong bearish momentum. However, after a spike in the early morning, a long lower shadow appeared (BTC's low was $98,000, ETH's low was $2,110), suggesting effective short-term support and a potential technical rebound demand.
Key support levels:
BTC: $99,500 - $100,000 (strong daily support), if broken, it may drop to $95,000. ETH: $2,180 - $2,200 (multi-period resonance support), if broken, it points to $2,100.
Resistance levels:
BTC: $102,500 - $103,300 (mid-channel pressure and previous highs on the 4-hour chart); ETH: $2,340 - $2,380 (daily MA7 and upper channel boundary)
2. Indicator signals
MACD: The 4-hour period DIF and DEA are below the zero axis, with bears in control, but the shrinking green bars indicate a slowdown in the decline, suggesting possible bottom divergence. KDJ: The 4-hour KDJ for ETH shows three lines diverging downwards, indicating short-term pressure; BTC's KDJ is close to the oversold zone, increasing the probability of a rebound.
Opportunities in altcoins: It is recommended to pay attention to segment operations of ORDI, LPT, SOL, and UNI, but it is necessary to closely follow the movements of BTC/ETH.
In this rebound led by Bitcoin, we witness the power of technical analysis and the infinite possibilities of the market. Let's stay calm and continue to pay attention, because the story of Bitcoin is still ongoing.
Better to enjoy together than to enjoy alone; if you reach out, I can pull you ashore!!
SUI TURMP BONK PEPE OM SOL PNUT
