BTC.ETH. Night Market Analysis

BTC

Good evening, brothers. This wave of four-hour level rise for Bitcoin has been hindered. Tonight, it briefly approached the daily resistance near 86000 but quickly pulled back. If we cannot break through the daily resistance at 86000, the market will likely move sideways at the daily level, in the range of 86000-83000, with defensive support at 81800. This range will form fluctuations. So, brothers, do not rush to open long positions; at least wait until near 81800 to try small positions, and only if the defensive support holds, will there be a chance to go up. Once 81800 is broken, the market is likely to spike down to wash out long positions, as the weekly chart has not yet started to retrace this week. The spike location may be in the range of 80000-79000, where positions can be built for long trades. Short-term support and resistance for the night are at 84500. If the four-hour closes again stabilizing at 84500, the market may try to challenge the 86000 resistance again. Once this resistance is broken, the next important resistances are near 87500 and 88300. Currently, the four-hour chart has not stabilized at 84500. Until the four-hour closes and stabilizes at 84500, we will look for a pullback to the downside, with target supports at 83000, 81800, and 81000.

ETH

Ethereum is doing a bit better, at least it surged to the high of 1690 in the afternoon and has now pulled back to the four-hour support near 1625. The four-hour support has not temporarily broken, so we first look at the rebound resistance near 1650 and 1690. At least the four-hour level needs to stabilize at 1650 to have a chance to break 1700. If the rebound cannot break 1650, the market will continue to weaken and move downward, with target supports continuing to look at 1560, 1500, and 1470. Long positions can be monitored near these levels.