25/08/02 BTC tests the upward trend, U.S. stocks re-test the previous high, will the bat pattern reverse?
Bitcoin's monthly opening line has dropped, and the current price has fallen below 115700 and 114700 with a minimum spike at 112660. Currently, the entire rebound strength seems weak, and the daily line is re-testing the previous high support. Attention is focused on the support between 110800 and 112000, which is also the support of the daily upward trend line. The daily Bollinger Bands are expanding, and we need to be wary of a real drop below 112000.
Affected by the fraudulent non-farm payroll data, U.S. stocks have experienced a sharp drop after nearly 3 months of continuous rise, breaking historical highs. The current pullback is temporarily viewed as a test of the previous high support, and here we must also prevent it from falling back, as the previous high support is crucial to determine whether the bat pattern 1.13 will form a reversal.
Big Pie
Big Pie has fallen for two consecutive days, yesterday the ETF outflow exceeded 800 million, which is the second largest single-day outflow since the ETF's inception. The daily line is still at the MACD zero axis crossover that the son mentioned and the acceleration of the outflow situation has broken the 20-day platform support, focusing on the pressure at 114000 and 116000 in the short term.
The daily line has not broken the Fibonacci 0.236 (111700) support. Therefore, the daily line still cannot break the previously mentioned 112000 support with a large bearish candle. If it breaks, it will lead to a situation of a false breakout in a large cycle.
Support: 110800—112000
Resistance: 114000—116000
Ethereum
Ethereum has also continued to decline for two days, dropping nearly ten points. Previously, the son reminded that there was an ascending triangle pattern and also pointed out that two supports, 3767 and 3500, must not be broken, but currently, the lowest point has spiked to 3429.
Both supports have fallen below the 20-day moving average, and the Fibonacci level has broken below 0.236. The next supports are 3350 and 3250, and from a larger cycle perspective, it is difficult to break through in a short time due to the weekly triangle convergence pressure.
Support: 3050—3250—3350
Resistance: 3535—3650—3750
