Tonight, the war between bulls and bears in the crypto circle is about to reach a fever pitch!
119623, 4246, 180 - these three numbers are like ticking time bombs, echoing on the K-line of BTC, ETH, and SOL.
Once the closing confirms the direction, it will either accelerate to the top or collapse directly, with no middle ground!
Old Zhu has already laid out the key battlefields, support lines, and rebound targets for you - next, are you ready to ambush and snipe, or take profits first? Don't blink, this wave could determine your gains or losses for the week!
Bitcoin:
Keep an eye on 119,623! This is today's 'lifeline'.
If it can hold (4-hour chart closes steadily): Then there's a chance to continue pushing up! The next target is to first look at the tough resistance around 122,456 - 123,300. If it breaks through, the sky is broader.
If it can't hold (jumps up and then falls back down, closing below it): Then the pullback will continue to be troublesome. Look for support downwards, the first line of defense is 118,030; if it can't hold that, then watch 117,345, and if that breaks, we’re heading for 116,440.
Old Zhu's view: Around 119,623 is a key area where bulls and bears have been battling recently. I've noticed that the recent attempts to rally haven't shown particularly strong volume, which seems a bit hollow. If today can really see increased volume (significantly expanded trading volume) and hold steady, then the credibility will be higher. Think about the fake breakout in May; how many people chased the high and got stuck? This time we need to see real buying support!
ETH:
The critical point is at 4,246! As long as the pullback doesn’t effectively break below it (the 4-hour chart shouldn't close below), there’s still strength to bounce back up.
If it doesn't break 4246: If it pushes up, the first resistance to watch is 4320, then 4370, and the ultimate challenge is the 4400 mark.
If it breaks below 4246: This wave of rebound could be over. Let's first see if 4160 can hold.
If 4160 can hold: There might still be a small rebound opportunity on a smaller time frame (like 1 hour).
If 4160 also breaks: Then be prepared for further downside, with support at 4110, 4060, or even 4005.
Old Zhu's view: ETH has been relatively strong recently, but 4246 is critical. I've noticed that on-chain whale addresses have been very active in the 4200-4300 range recently; the competition in this area will be fierce. If it breaks below 4246, be alert for short-term profit-taking and panic selling. The last quick rebound around 4200 is a great example of 'effective support'.
SOL:
The key point is 180! This is the 'referee' for determining if this pullback has ended.
If it holds 180 (4-hour chart confirms): Signal that the pullback has ended! Then push up, targets are 186, 189, 192.
If it can't hold above 180 (jumps up but can't stabilize): The pullback will continue. Support levels to watch are 173, then 170, with strong support at 167.
Old Zhu's view: SOL is notorious for its large fluctuations. The 180 level is the lower edge of the previous trading volume area and a combination point with the short-term trendline, which has strong technical significance. Reviewing SOL's recent movements, it particularly likes to make moves near whole numbers (like 180), often leading to false breakouts or breakdowns. Today, we must look for confirmation at the close; intraday spikes don't count. The last 'deep V' rebound around 170 took advantage of the psychology of people thinking they should stop loss on a breakdown.
Old Zhu's summary: Today's key word for the market is 'confirmation'. The performance of the closing prices at BTC's 119623, ETH's 4246, and SOL's 180 will directly determine whether the short-term trend continues to rise or deepens the pullback. Market sentiment is cautious; I personally lean towards considering light positions for a long only when there are clear signs of a bottoming out at key support levels (like BTC's 118030, ETH's 4160, SOL's 173) with signals like long lower shadows or volume rebounds, and prioritize partial profit-taking near resistance levels. Remember, plan your trades and trade your plan! Don't let intraday fluctuations disrupt your rhythm.
I've clearly marked the points for you, the key position is the battleground between bulls and bears! Are you planning to ambush and buy at the support level, or take profits at the resistance level? Or, which coin do you think is most likely to surprise (or scare) you today? Share your strategy and positions in the comments, Old Zhu will keep an eye on the market with you!