Market Review Analysis
BTC's performance yesterday basically followed a fluctuating market. After retracing to around 107, it began to rebound, but ETH's decline was minimal. As mentioned yesterday, this is to compensate for the previous BTC rise that did not lead to an ETH rise, so it feels very rigid, and the drop is not very smooth. A rebound of BTC in the early morning drove ETH's compensatory rise. On the four-hour level, ETH attacked the double top position near 2630, while BTC's rebound strength on the four-hour level was relatively small. Normally, it should break below the support position of 106000 in the next few days, while ETH, under the same circumstances, would break below the support position near 2450. The current market feels tormenting; one must patiently wait. BTC is forming a trapped position, and ETH gives the impression of wanting to catch up. All of this is inducing a bullish market.
Today's Strategy Highlights
The third high point of BTC on the four-hour level near 109200 has been established. On the intraday level, first focus on the support position near 107000, which has been touched twice without breaking. If all goes well, in the coming days we need to pay attention to whether it will directly break down to the support position in the range of 106-107. This week, it is crucial to focus on the support position near 106000. The daily level is showing a fluctuating market, with a doji star closing yesterday. Currently, it is clearly forming a trapped position at the daily level. The market won't drop all at once, which proves that there is still a certain amount of buying in the market. The trapped positions have not ended, so there won't be a significant drop all at once. However, this week is likely to end this trend and continue to decline.
ETH daily level has slightly surged, 2630 is the second surge, the first was very strong last week, but after surging once, it quickly fell back to around the support point of 2450. For the current daily level support position, it is still essential to pay attention to the support position in the range of 2400-2450. On the four-hour level, after the double top formation, the support point to focus on is the range of 2520-2560. The support position on the four-hour level is near 2520; if it breaks, we can smoothly see the support position near 2450. Currently, ETH is still in a divergence state, meaning that the weekly trend is clearly bearish. Everyone should manage their own positions. The market liquidity has not yet recovered, and the funds in the market cannot hold on for too long, as the available capital is also very limited. Only BTC has performed relatively well this round, while others basically have no volume. In this environment and market atmosphere, everyone should remain vigilant.
