Bitcoin, Ethereum, Today's Market Interpretation

1: #BTC Bitcoin surged to around 115800 last night before the US stock market opened and began to pull back, with a minimum pullback to 112500. The high point pulled back by 3000 points. The position at 112500 is exactly the support level. Currently, Bitcoin's trend is a daily-level downward movement, and the low point hasn't been established, so the rebound is relatively weak. However, today it has reached 112500, which is almost enough at the daily level. From a technical perspective, it is almost there, just waiting for the rebound. If the rebound can break above 114000, it won't test new lows for a short time. If it breaks down again, it will test the lower support at 111500.

Bitcoin's upper resistance is at 114000 and 115000, while the lower support is at 112500 and 111500.

2: #ETH Ethereum also dropped from a high of 4300 yesterday to a low of 4060, a drop of almost 300 points. This position is exactly where I made my third purchase. I didn't get filled on the limit order. Now, the lower support for Ethereum is the 4000 dollar mark. If it doesn't hold above 4000 on a pullback, it would be unfavorable for bulls. If the pullback doesn’t stabilize for long positions, stop-loss should be set. It’s better to wait for a rebound before entering the market than to hold on.

For Ethereum, the intraday upper pressure levels are 4180 and 4230, while the lower support levels are 4100 and 4000.

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