$BTC rebounded the night before last, showing a short-term momentum that refuses to pull back, while altcoins performed relatively modestly, experiencing pullbacks after rebounds, with notable rebound percentages: $ETH 17.5%, $UNI nearly 25%, $CRV 18.6%, $ena 26%, $MKR 27%, and $LQTY has been hitting new highs recently! Meanwhile, $LTC is like an old foot holding back, with a small decline and not much strength in its rebound.
If the low point wasn't supplemented, it’s actually quite difficult to act at this position, but I still hold the view from yesterday that if you missed the low point, it might be better to wait for a pullback.
There are two reasons:
1. Bitcoin has reached the resistance level of the four-hour trend line, and the short-term downtrend channel on the four-hour line has not been broken, so it's not advisable to be overly bullish; plus, from the daily line perspective, it’s a volume-decreasing rise, making a pullback quite probable;
2. The Nasdaq has reached the 19946 position, just a line away from the previous high of 20204, with increasing pressure, and from the hourly line, it’s highly likely to open low tonight. If there's a correlation with cryptocurrencies, a pullback is also possible!
