Market review analysis
BTC's performance during the day yesterday still showed a weak trend, but the position at 108 did not continue to be tested again. Instead, it began to rebound yesterday. The strength of the rebound during the day is still not as strong as that of ETH. So currently, the rebound of BTC must lead the overall trend of altcoins to strengthen. ETH also did not touch the lowest point of 4311 again after yesterday, which conforms to the intraday counterattack. In the evening, it directly reached the 4500-4600 range. Now, it is focused on whether this position can stabilize and rise again. Just like before, break through and stabilize before looking for new highs. This wave of trend is based on a previous rise and pullback, and the significance of a rise to 4600 is different. The last rise went directly from 4200 to over 4900, with hardly any pullback in between. This slow rise is actually better. After stabilizing at 4600 this time, first pay attention to the 4800-5000 range. Breaking through 5000 will basically reach the 5100-5300 range. Just pay attention to the defensive pullback at this position. As for altcoins, there is no need to emphasize too much. This time will follow the rebound of BTC to strengthen a wave. Just pay attention to that, and still focus on those few coins.
Today's highlights interpretation
The current support level for BTC is around 108. As long as it does not break below this line, it is currently in a support bounce range of 108-112. From the current trend perspective, it is a clear support rebound point. In the last two days, focus on whether 112 can stabilize before directly looking at the resistance line in the 115-116 range. As long as it stabilizes above 116, the market can return to the 118-122 range. Therefore, the current market is looking for a rebound upward. The weakness of BTC does not mean it will continue to be weak.
The ETH market began to rebound from the low point near 4300. Yesterday, it directly counterattacked during the day, showing that it is not as weak as BTC. So this wave of the market mainly focuses on whether 4600 can stabilize and continue to rise to the 4800-5000 range. Therefore, in today's intraday level, it is important to pay attention to whether the four-hour level can close and stabilize above the 4600-4650 range. As long as it closes and stabilizes at this position, it will open up upward space for the market to continue rising. Intraday, you can directly look at the upward resistance line. If it cannot stabilize above 4650 at the intraday level today, pay attention to the defensive support level of 4450-4500.
