Market overview
Yesterday, the cryptocurrency market showed an overall consolidation pattern, with Bitcoin fluctuating in the $117,000-$119,800 range and Ethereum oscillating around $3,700-$3,900. Most mainstream coins maintained a consolidation posture, while altcoins exhibited a mixed performance. Market focus is on the monthly close performance and the situation of key resistance level breakthroughs.
Hotspot focus
Bitcoin and Ethereum have become the most关注 cryptocurrencies, with multiple KOLs discussing their support levels, resistance levels, and breakout directions. The monthly close has become the core event of market attention, believed to influence the overall trend next month.
Important news: The U.S. Securities and Exchange Commission (SEC) has launched the "Crypto Project" initiative aimed at modernizing securities regulations and transitioning the market to on-chain; the U.S. Court of Appeals overturned the fraud conviction of a former OpenSea product manager, a case that is the first involving insider trading of digital assets.
Core viewpoints of KOLs
1. Bitcoin awaits breakthrough in consolidation.
Viewpoint: The 4-hour chart shows $121,000 as strong resistance, the $114,700-$115,800 range as support.
Support logic: Multiple tests of resistance levels failed, 4-hour chart shows strong resistance.
2. Disagreement in Ethereum's bullish and bearish outlook.
Viewpoint: $3,850 is key resistance, $3,500-$3,600 range is strong support.
Support logic: Multiple resistance encounters at the upper range, but strong support below.
3. Monthly close is crucial.
Viewpoint: Monthly close performance will determine next month's trend, cautious operations are needed.
Support logic: Monthly K-line patterns significantly impact the medium to long-term trend.
Part of the trades completed yesterday.
Jasmy Bearish Trade - Profit 17%
Entry price 0.01527, target price 0.014444.
SPX Bullish Trade - Profit 4%
Entry price 1.7125, locking in profits with a trailing stop.
IP Bullish Trade - Profit about 3%
Entry range 6.35-6.18, take profit at 6.59.
HOOK Bullish Trade - Profit 6.94%
Achieved the first take profit level.
Key coin analysis
Bitcoin (BTC)
Current performance: About $115,000.
Technical aspect: The 4-hour chart shows $121,000 as strong resistance, the $114,700-$115,800 range as support.
Fundamentals: Affected by SEC's new regulations, market sentiment is cautious.
Expected trend: Most KOLs believe a breakthrough of $121,000 is needed to confirm an upward trend, while a break below support may pull back to $111,900.
Ethereum (ETH)
Current performance: Fluctuating around $3,700-$3,900.
Technical aspect: $3,850 is key resistance, $3,500-$3,600 range is strong support.
Fundamentals: No major news, influenced by overall market sentiment.
Expected trend: Significant divergence, some KOLs bearish to below $3,500, while others believe it will break through $4,000.
Solana (SOL)
Current performance: Trading around $163.
Technical aspect: $163.27 is the entry point for long positions, $159.25 is the stop loss.
Expected trend: Some KOLs are optimistic about its short-term performance, believing there is room for a rebound.
⚠️ Risk Warning
The market is in a critical period for the monthly close, volatility may increase, operations need to be particularly cautious.
Most KOLs recommend controlling positions, with risk exposure not being too large, and single trade risk should be controlled within 1%.
The phenomenon of false breakouts and false breakdowns is frequent, setting reasonable stop losses is crucial.
Market direction is not yet clear, excessive trading may lead to unnecessary losses.
Focus for tomorrow
Market response after the monthly close
Can Bitcoin break through the key resistance level of $121,000?
Ethereum's breakthrough situation in the $3,800 range.
Market volatility potentially brought by U.S. economic data release.
Further interpretation of SEC's "Crypto Project" initiative and market response.
Finally, thank you for watching, follow A Xu to avoid getting lost! I hope to use the experience and lessons I've accumulated over many years in the crypto circle to help you avoid detours and double your assets!
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