Share the current market analysis.

Weekly:

Last week's closing formed a bullish engulfing with reduced volume, engulfing the previous bearish candle, indicating a stop in the decline. It tested the support range around 89865, and a stop signal appeared near an important support level, enhancing the effectiveness of the stop signal. Therefore, the probability of testing the previous high again has increased.

Daily:

On December 31, a reduced volume piercing line appeared, indicating the end of the decline, followed by a rebound to the important resistance level near 99514. Currently, the closing formed a bullish candlestick cross, with no obvious bearish pattern yet. The subsequent bullish volume has not been released, so as long as there is a volume breakout above the important resistance level of 99514, and it holds steady in this range, it is highly likely to test historical highs.

Summary:

The weekly trend background is in the mid-bull market, with a closing forming a reduced volume bullish candlestick, indicating the end of the decline. The probability of testing historical highs has increased.

The daily level is in a consolidation phase after an upward trend, currently positioned near a minor oscillation range resistance level. There is no obvious reversal yet, and there is a probability of testing the important resistance level of 99514, observing whether there is a volume breakout and a steady hold.

Recently, Bitcoin's rebound strength since December 20 has been significantly weaker than that of Ethereum and some altcoins. The daily MACD for Bitcoin has not yet formed a golden cross, while Ethereum's MACD has a golden cross near the zero axis below the MACD line, and the weekly closing is also stronger than Bitcoin, indicating a reduced volume morning star, with a stronger stop signal. Therefore, Ethereum will likely test historical highs.