Share the current market analysis.

Weekly:

Last week, a small bullish candle with reduced volume was formed, encountering the resistance zone of the dense trading area at the upper 105 days, so it is not easy to break through. This small bullish candle confirmed the effectiveness of the previous volume-increasing stop-loss signal. However, as it approaches the resistance zone, more volume is needed to break through, and only when it stands firm after the breakthrough can it be considered a true breakout. Observe whether the subsequent bullish volume will be released or if it will continue to oscillate and consolidate.

Daily:

Since April 17, it has gradually broken through the recent downward trend line, indicating that a trend change is about to happen. However, there has not been a significant release of bullish volume, and it is getting closer to the upper resistance zone. Observe whether there will be a volume breakout above the 88772 resistance zone. From the delineated oscillation range of 78197-95152, it can be seen that the bearish volume is gradually weakening while the bullish volume is beginning to strengthen, but there are no obvious signs of higher lows yet. Observe the pullback after this rebound encounters resistance, and then analyze the details to judge the strength of bulls and bears.

Summary:

The weekly level is in the context of a mid-term bull market, currently in an adjustment cycle. After the adjustment ends, a new round of upward trend will soon begin. The current market is still hovering within the oscillation and consolidation zone, waiting for the release of bullish volume.

The daily level is in the trend context of a downward continuation, but three attempts near the low point have not actually broken through the lower support zone, so the probability of bottoming is relatively high. Currently, it is in a rebound market, observing whether the subsequent market will have a volume breakout and stabilize above the 88772 resistance zone. If it breaks through, it will enhance the probability of a market reversal.

From a technical perspective, it can be seen that the weekly level of Bitcoin and Ethereum, including most altcoins, shows signs of bottoming out. Coupled with the favorable fundamentals for Ethereum, Hong Kong is the first to pass Ethereum staking, which provides good support for Ethereum series tokens. Therefore, hold patiently as the overall trend has not changed.