Bitcoin, Ethereum, SOL, today's market interpretation.
1: #BTC Bitcoin retraced to around the low of 111600 last Friday and started to slowly rebound. Then, during Powell's speech, it surged violently, peaking around 117400, climbing over 5000 points from the low. After that, it began to slowly retrace near 117400. Last night, it retraced to around 114300, grinding, and started a rapid downward spike in the middle of the night, dropping 4000 points, hitting a low around 110500, which is also a support level.
A few days ago, I posted a reminder that if the long positions break below 114000, it cannot be maintained. If you had set a stop-loss last night, it shouldn't have hit much. Currently, Bitcoin's rebound is still relatively weak, and today's rebound didn't even touch 114000. So, it's not good to go long for now. If it really needs to be played, wait for 110000 to gamble again; if it doesn't hold at 110000, decisively stop-loss.
Resistance above Bitcoin at 114000, 115000, 116000, 117500; support below at 112000, 111500, 110000
2: #ETH Ethereum first broke the historical high yesterday, reaching around 4960, just 40 points away from touching the 5000 USD mark. Then, in the middle of the night, it correlated with Bitcoin's drop down to around 4700 before starting to rebound, reaching around 4820, rebounding 110 points before the next downward wave, which again hit around 4660. This is exactly where it dropped and rebounded a couple of days ago, which is also the 1-hour support level. This position is quite critical. If it retraces and breaks below 4650, then the key low for this wave of Ethereum would drop to 4400. So, the bulls can only gamble here if it doesn't break the level; there is still a chance, but judging from Ethereum's current formation, if it doesn't stabilize above 4800 during the day, there is still a possibility of continued downward movement and breaking the level.
Resistance above Ethereum at 4820, 4880, 4950; support below at 4650, 4550, 4400
3: #SOL These past two days have been relatively stronger compared to the previous ones, trying to break 210, but it has failed to stabilize above 210 after two attempts. The market has retraced, failing to hold 210, which can also be said to be due to insufficient volume. I have previously mentioned that SOL needs to hold 210 to open up upward space; if it doesn't stabilize, it will retrace. Currently, watch the key position at 200 during the retracement. If it breaks, the bulls need to be cautious. The main issue is that the market is not strong; Bitcoin's downward movement may pull SOL down as well. If it can't break through this time, if it can't get above, it becomes a high point. So be careful; if 200 breaks, the extreme position would be around 195. If it can't hold here, then it can't stop-loss first.
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