Good morning everyone, Bitcoin, Ethereum, SOL, today's market analysis
1: #BTC Bitcoin hit a low of 114600 yesterday and started to rebound, last night the highest point rebounded to around 116700 before starting to retrace, retracing to 116000 and not going lower began the next wave of rebound, rebounding to close to 117000 before starting to retrace again, currently the lowest point has hit around 115500, and the current price is hovering at 115800
Bitcoin's current trend is still what I mentioned in my live broadcast last night, if it doesn't break above 117000 on the rebound, we will first look at the range of 117000-114000 for consolidation, it won't break this range quickly in the short term. Bitcoin has resistance at 117000 and 118000 above, and support at 115500, 114500, 114000 below.
2: #ETH Ethereum hit a low near 4220 yesterday and started to rebound, the highest rebound reached around 4380 before starting to retrace, currently the lowest point has hit around 4260. Ethereum's trend is similar to Bitcoin's, in the range of 4370-4220. If it doesn’t break above 4400, it will continue to retrace. I mentioned in the live broadcast that if it breaks through, the bears can’t hold short positions anymore, and if the short position goes down below 4280, it must take profit. Before the live broadcast yesterday, I had said that for the larger timeframe, you can come down to around 4250 to build a light long position, and continue to buy in at 4150 for the second position, with a stop-loss at 4000; if it doesn’t break below, you can take advantage of the rebound.
3: #SOL Yesterday, the lowest point broke through 180 and started to rebound, the highest rebound reached around 186 before starting to retrace, this position is also just below the resistance level. Currently, SOL is not very strong on its own and is highly correlated with the overall market. To rise significantly, it needs to be independent to have a big market movement. Those who want to long can accumulate by buying in batches during the retracement to 175-161.
SOL has resistance at 186, 192, 195, 198 above, and support at 180, 173, 161, 156 below.
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