The recent market has seen a significant decline, and the overall trend is currently bearish with insufficient upward momentum. The news that Microsoft refused to purchase Bitcoin early this morning has made matters worse, therefore it is prudent to reduce positions during rebounds, which aligns with the market trend. Although the market has dropped sharply, this can also benefit healthy market development. However, the situation for altcoins is concerning, as most have performed poorly this month, though there may be a turnaround next month.
1. BTC Market Analysis
Bitcoin continues to show a bearish outlook, but if the price drops, it may be worth considering a small bottom fishing. The downtrend is clear, and if tonight's 1-hour rebound can break through 96000, the resistance levels above will be 98800, 101500, and 103700. If the closing price tomorrow morning is below 96000, the market may correct, with key support levels at 93950, 90800, and 87200 to watch.
2. ETH Market Analysis
Ethereum's decline is even sharper than Bitcoin's, and altcoins are particularly grim. For investors, if position management is done well, the pressure from this decline will be much less, especially for those holding altcoins, many of which are currently stuck in losses. From a daily perspective, if it can close above 3630, a rebound is expected, with resistance levels at 3760, 3840, and 3949. If the daily close cannot hold above 3630, the market is likely to correct, with support levels at 3496 and 3390, where short-term buying opportunities can be considered.
3. SOL Market Analysis
SOL is likely to remain below 200, and currently, it is not recommended to intervene; waiting for further declines may be better. If it does not break below 200 tonight, the resistance levels above are at 216, 231, and 246. If the close cannot return above 200, support levels to watch are 184 and 164; if it breaks below, gradual position building can be considered.
4. DOGE Market Analysis
Dogecoin needs to be cautious of risks after dropping below 0.4, with positive expectations set for next month, so it may be wise to reduce positions and observe for now. If it can hold above 0.4 this evening, resistance levels above are 0.418, 0.447, and 0.484. If the closing at 8 AM tomorrow is still below 0.4, the support levels below are at 0.364, 0.342, and 0.309, at which point gradual position building can be considered.
