Today's market greed-fear index is 50, with the greed index rising 2 points from yesterday. The market sentiment remains neutral. The total number of people in the market over the past 24 hours is 77,000, with a total amount of $230 million.
Reviewing the overall market: In yesterday's analysis, we provided bullish trends for both the main and second cakes. The low bullish position for the main cake has been rising steadily after reaching. The lowest point for the second cake ETH during the day was around 2388, and the first position we entered was at 2420, successfully hitting the first take-profit target of 2480. Today, there is hope to reach the second take-profit target near 2535. In terms of news, apart from the Israel conflict, no significant news has emerged in the short term. The focus remains on watching for rebounds.
Today's focus on BTC:
Upper resistance levels are around 108900 to 110300, serving as today's first and second resistance.
Lower support levels are around 106500 to 105600, serving as the first and second support.
(Today, the trend continues to favor low bullish positions, and the weekend market is approaching, marking another critical K-line node. The target range of 108900-110000 that has been emphasized during this period may likely be reached in the next few days. If we directly break through 110000 with a solid line, then a new high may not be far away. If the weekly line ends with a long wick before the monthly line closes, it could be the best time to enter a short position. The big cake has continuously broken through at the four-hour level. If it does not retrace to the target position during the day, do not blindly chase it. Always set a stop loss, placing it around $600 near the second support or resistance.)
Today's focus on the second cake ETH: Resistance levels around 2535 and 2575 as the first and second resistance.
Lower resistance levels are around 2435, with the first and second support near 2410.
(Similar to the main cake, if the main cake breaks through the solid line in the next few days, the second cake may experience a sudden rebound. Once the main cake forms a major trend setback, the second cake will definitely go down with it. The trend should focus on resistance above 2575. Conduct swing trading during the day, with a small bullish trend in the weekly level. Always set a stop loss, placing it around $40 near the second support or resistance.)
Summary: The direction remains unchanged, focusing on bullish trades. Primarily enter short-term positions during the day, and it's best to reduce positions before the weekend market spikes to wait for clearer trends. The main target for the big cake this week remains between 108900-110000, after which we will decide on long and short positions based on the situation. Pay close attention to the resistance target around 2570 for Ethereum, and make decisions based on the main cake's movements.
