Happy weekend, brothers. Last night, Bitcoin only made a small move up, reaching the previous high of the last wave before coming down. The weekend market fluctuated little and also rose overnight, so today during the day, we will look for a pullback in the smaller timeframe, mainly focusing on low long positions.
This week's significant decline was due to negative news. The new low of 746 has been tested twice on the 4-hour timeframe, which means a W bottom has formed. Just as the tariffs were paused by the Yellow Hair, this negative news suddenly stopped, and the market welcomed a strong rebound. From the technical perspective of the candlestick chart, we aim to see if this large rebound can push towards the 885 level, of course, this is under the condition of no negative news!
For Bitcoin $BTC , pay attention to the 83000 level today. Only if it closes above this level on the 1-2 hour timeframe can the market continue to rise. The upper resistance levels to watch are around 84300-85575-86800!
For Ethereum $ETH , pay attention to the 1566 level today. Only if it closes above this level on the 1-2 hour timeframe can the market continue to rise. The upper resistance levels to watch are around 1590-1627-1650!