BTC recorded another large bullish candle on the weekly chart, with a weekly increase of 6.27%, and the overall candlestick pattern shows a significant bullish trend.
However, at the daily level, there was a certain degree of pullback over the weekend, with the candlestick testing the daily moving average downwards, filling the technical gap and gaining effective support, followed by a rebound in the morning that recovered more than half of yesterday's losses, indicating that the overall upward trend is still maintained.
From the perspective of the 4-hour chart, BTC is experiencing narrow fluctuations above, forming a consolidation range between 98500 - 99500. In yesterday's market, the price rebounded to 98500, but multiple attempts to break through were unsuccessful, leading to a significant pullback of over 3000 points in the afternoon to evening session, and after another rebound near 98500 in the morning, it fell again.
Overall, the performance of the 4-hour chart appears slightly weak. Based on this, intraday operation strategies should focus on the resistance level in the range of 98500 - 99500 above, anticipating that the price will face significant resistance and generate a pullback. Meanwhile, the 100000 integer mark is a crucial node with significant market implications. Below, attention should be paid to the support defense strength near 95500.
ETH market analysis and trading strategy
Regarding ETH, the bullish expectation at the 3320 - 3280 position mentioned last Friday was accurately validated, with the price touching a low of 3265 and a high of 3500 over the weekend. On the weekly level, the pullback after a significant rise is nearly half of the maximum increase, and the highest point is right near the 3500 point predicted last Friday, indicating a slight lack of upward momentum at the weekly level.
The daily level trend indicates that after yesterday's pullback adjustment, the candlestick accurately tested the 7-day moving average position, successfully repairing the technical gap and gaining strong support from the lower moving average, with a corresponding rebound occurring in the morning, showing an overall upward oscillation trend.
From the analysis of the 4-hour level, after reaching around the 3500 point on Saturday, a small cycle of consolidation began, with clear resistance above at the 3380 - 3420 range, and the key defensive area below at the 3280 - 3320 position.
For intraday operations, a high sell low buy trading strategy can be developed based on the aforementioned key levels, and given the current overall trend characteristics, the dominant strategy should be high short positions.
Altcoin market dynamics and strategy recommendations
Driven by the fluctuations in ETH yesterday, the altcoin market experienced a significant pullback, with market sentiment showing extreme sensitivity, akin to pulling a thread that moves the whole body. The rotation characteristics of recent market hotspots have become increasingly strong, and in this market environment, it is crucial to avoid greedy high chasing behavior during operations and to adhere to the trading principle of high sell low buy.
Specifically, in the gaming sector, the leading AXS has once again shown explosive growth, and for other coins related to it, one can actively capture the opportunity for catch-up; the oracle sector is also starting to stir, with the leading LINK rising 10% on the day, successfully recovering yesterday's losses, while TRB, which previously provided investors with doubling opportunities, has been oscillating in a new bottom area, with clear support located near 66.
As for detailed coin information in strong sectors such as artificial intelligence, memes, and the metaverse, further in-depth communication can provide more detailed content.
The primary market has recently shown a significant downward trend in enthusiasm, with market enthusiasm for newly added on-chain projects gradually being consumed, and the daily number of new dog projects decreasing, while the Pump mechanism remains the current market hotspot.
In the newly launched AImeme project, ACT and GOAT are currently in the phase of digesting the bubble of enthusiasm. From an investment strategy perspective, it is recommended to wait for further pullbacks before paying attention to ACT, while due to excessive selling pressure, it is not advisable to engage with GOAT at this time.
