Hello everyone, I am Old Liu

Last week, Bitcoin consolidated for a week, and this morning it finally went up. But everyone shouldn't celebrate too early, because it immediately faces the resistance level of 88000, which has been defended since March 24.

Over the weekend, a bunch of unknown altcoins suddenly jumped like they were energized, and on Monday, Bitcoin surged over 2000 points in the Asian market.

Old Liu thinks that since the US stock market hasn't shown much improvement, this might be due to funds in the crypto space playing an internal cycle. Of course, this is just Old Liu's personal speculation.

With Bitcoin's main force choosing to break upwards this morning, the price has entered the strong fluctuation zone of 86300 to 87700. If it can stabilize above 87300 by the end of these two days, then 90000 is likely to be stable.

Although it has broken through the resistance at 86000, the 5-day and weekly moving averages have pulled back the highs. If it can break above 88800, the upper limit high point is 91000.

Therefore, only a breakthrough and stabilization above 91700 can be considered a trend reversal; once stabilized, it can head towards 95k to 100k. Last week, 86400 was a strong resistance, consolidating for over a week, and after this morning's Asian market surge, it must first break through 88800 and stabilize before reaching 91000.

As for Ethereum, the key point is to break through and stabilize above 2660; only then can we see 4k. In the first half of this year, it created three peaks: 1912, 2112, 2320.

So the road ahead is still long; if the much-hyped upgrade can't hold up, it might really be in trouble in the short term.

Resistance level reference:

First resistance level: 88500

Second resistance level: 88000

Support level reference:

First support level: 86800

Second support level: 85800

From a technical analysis perspective, a large bullish candle has appeared, and the price has entered the overbought zone. If you want to wait for a correction before entering a short-term long position, you can monitor whether the overbought status will persist.

The first resistance level at 88000 is the first previous high in the dense area of previous price highs. If a pullback occurs, there may be an opportunity for a retest after breaking through. As for the second resistance at 88500, you can observe the strength of the adjustment in a shorter time frame to look for buying opportunities on a pullback.

If the price adjusts, the first support at 86800 is the area of a previous higher high. It may be worth considering looking for entry opportunities in the range of 86500 to 86800. However, this support level may not hold completely and could briefly break down, so the adjustment range is roughly set around 86500.

The second support level at 85800 is the high point of last week's consolidation and can serve as a key support reference. If it breaks below this, market sentiment may turn bearish.

Currently, the short-term upward trend line for Bitcoin seems stable, and it is expected to continue testing the resistance at 88000-88500, followed by a corrective fluctuation and range adjustment!

The range of 88300-88500 is the target of 86800-85500

The range of 84800-85500 is the target of 86800-87600

Ethereum is currently maintaining a fluctuating upward trend and is expected to touch the resistance range of 1660-1690 before undergoing a corrective fluctuation and range adjustment!

The range of 1660-1690 is the target of 1600-1560

The range of 1560-1600 is the target of 1660-1690

This is just Old Liu's personal thought for today, for everyone's reference!

This sharing ends here for now; Old Liu will continue to monitor the market. If there are significant changes, Old Liu will provide real-time tips and suggestions. If anyone has questions, feel free to follow Old Liu for discussions. Old Liu will respond to everyone one by one, goodbye!#加密市场反弹