During the day, Bitcoin has started a narrow range of fluctuations at a high level, which is a clear signal of stagnation on a larger scale.
So there are no additional suggestions. Especially in the daily level where a potential W-bottom reversal structure is being formed, it is only recommended to enter on the right side after a stable breakout. Otherwise, priority should be given to handling it with low-level fluctuations.
Next, we will see if Bitcoin can break through and stabilize around the 93,000-94,000 mark, which will play a key role in the continuation of the bullish trend in the market.
In the evening U.S. stock market session, pay attention to the price performance around the 90,000 mark during the pullback. After a halt in the decline, if there is buying support, it is highly likely to shift to consolidation. The longer the consolidation lasts, the greater the opportunity to form a potential bullish continuation structure. Therefore, the position and extent of the pullback are quite important.
If the pullback is too severe, breaking below 9w, then it will start to pull back downward from the hourly level, looking at the mid-axis of the daily level oscillation range at 8w6. The lower edge is around 8w-8w2.
Resistance above: 94000/95750/97190
Support below: 91800/90500/88800
Ethereum completed the Fusaka upgrade this morning, continuing to rise slightly following the US stock market's after-hours.
After breaking the small level support, there is an expectation of a pullback. The current position shows obvious stagnation; it is not advised to chase higher.
Observe whether strong buying power intervenes at the support around 3080; if it holds, it will be a right-side entry point for a long position.
If the market follows down and breaks below 3080, returning to the lower consolidation zone, then pay attention to the price performance at 2940/2880. Look for wide fluctuations at a higher level.
Resistance above: 3260/3310/3380
Support below: 3080/2980/2880
A large level bottom arc is expected; after testing the breakthrough near the 144 longitude line, it failed to stabilize, forming a false breakout.
The smaller time frame is starting to weaken, and there hasn't been a significant breakout; it is transitioning into a narrow consolidation.
It is not recommended to chase the breakout at the current position, especially when the market has a pullback expectation.
In the evening, pay attention to the performance around the pullback of 135-137; after stabilizing, look for a continuation of bullish rebounds, or even an upward breakout.
If the market pulls back too deeply, the short-term bulls will weaken, and the bulls should be poised around 128.
Resistance above: 144.3/147.2/149.6/153.2
Support below: 137.3/133/128
$BNB
After breaking the previous resistance around 880, the smaller time frame is starting to weaken.
Bulls have a pullback expectation; wait for a drop and observe the price performance around 880.
After the double bottom structure breaks, wait for a pullback to stabilize and there is hope for a continued upward rebound.
Resistance above: 935/950/970/994
Support below: 880/868/830/800
