Yunmeng Web3 provides daily market trend analysis. Welcome all brothers to join.
Market Analysis——
Good afternoon, brothers! Currently, the market is fluctuating within this range and has not made any substantial breakthroughs. During the day, it is still advisable to sell high and buy low. A breakout or breakdown is when we stop-loss! Let me briefly talk about the market.
$BTC Bitcoin also mentioned yesterday that if it cannot hold the position of 87500, it will go down, and it indeed dropped to my second support level of 86290 before starting to rebound. Currently, Bitcoin should continue to pay attention to the position of 87590. If it holds this position, it will rise again. The upper resistance levels are 88470, 89520, 90940. If it subsequently falls below the position of 87590, it will still go down. The lower support levels are 86736, 86290, 85868.
$ETH Ethereum also mentioned yesterday that if it cannot hold the position of 1615, it will go down. It indeed dropped slightly above my third support level of 1522 before starting to rebound. Currently, Ethereum should pay attention to the position of 1590. If it holds this position, it will start to rebound. The upper resistance levels are 1615, 1662, 1699. If it still cannot hold the position of 1590, it will go down. The lower support levels are 1563, 1534, 1477.
Now let me share my personal opinion. I still have a positive outlook on the market. I also mentioned that if Bitcoin's daily closing price does not exceed 885, I will not be bullish. Of course, this is just my personal view, and we will see how the market moves.
