Crypto Circle Academician: What does the 7.2 Bitcoin short-term sideways movement indicate? The turning point for Ethereum's trend is quietly approaching! Latest market analysis and reference suggestions.
Bitcoin (BTC) latest market analysis
As of the time of writing, the current price of Bitcoin is 106,000, the first target of 107,000 has already been hit, and it has dropped below the second target of 106,000. Now, whether the market will continue to decline is not the main concern, as profits have already been locked in. The remaining is left to time for continued holding. If the price chooses to decline from the upper level of 108,500, there’s no need to rush to exit. Currently, the market will trade sideways around 105,000 for a certain period, so the main force will continue to choose to decline. After the market reaches 105,000, it will try to move north again. However, don’t rush to exit completely when declining; leave some position to maintain a base. The target is simple: the ten thousand mark, and don't look too far for short-term northbound targets; it's best to take profit when it looks good.
Intraday reference points are as follows:
If it doesn't break below 106,000 to 105,500, it will move north, stop loss at 300 points, first target 107,000.
If it breaks below 106,000 to 105,500, it will move north, stop loss at 300 points, first target 104,500.
Ethereum (ETH) latest market analysis reference
As of the time of writing, the current price of Ethereum is 2,422. It is evident that it hasn't broken 2,530, and the southbound target of 2,430 has been reached. The new trend turning point is at the golden ratio line 0.382. The trend support is at 2,390, and the bottom support point has been identified in the range of 2,410 to 2,390. As long as this support zone holds, a rebound will occur. If it breaks, it will continue to move south. Overall, the market trend shows that in the short term, the main force will continue to torment retail investors, trading sideways around 2,425. Interested crypto friends can open both long and short positions at this level, as it's uncertain whether the support will hold. However, in the current market condition, this pattern is the most stable. You can also try to move north from this position, aiming for an intraday target of 30 to 50 points.
Intraday reference points:
If it doesn't break below 2,410 to 2,390, it will move north, stop loss at 30 points, first target 2,460.
If it breaks below 2,410 to 2,390, it will move south, stop loss at 30 points, first target 2,330.
Specific operations should be based on real-time market data. For more detailed information, you can consult the author. The publication of the article may have delays; the suggestions are for reference only, and risks are to be borne by yourself. $BTC