Technical Analysis: BTC (Bitcoin)
Yesterday's market performed as expected, facing pressure and retreating after reaching around $94,500. Although it briefly surged to $94,700 in the evening, it then pulled back to the support level near $92,000, aligning with our predictions.
The daily chart has shown a significant rise of nearly 10,000 points over the past three days, indicating overbought conditions. A short-term consolidation is needed to correct the deviation in indicators. The market is currently in a high-level consolidation phase, but the overall trend remains a phase of upward movement.
The 4-hour chart shows that BTC is still in a channel of oscillating upward, but the short-term gains have been too rapid, suggesting a need for a technical pullback.
Today, attention should be paid to the resistance range of $93,800-$94,800 above. If it cannot effectively break through, it may test the support level of $91,800-$90,800 again. It is recommended to sell high and buy low, waiting for clearer trend signals.
ETH (Ethereum)
Ethereum is about to welcome the Pectra upgrade. Although it is a long-term infrastructure optimization (enhancing network stability and reducing inflation), the market may experience a short-term pullback due to the “positive landing” effect to complete the concentration of chips.
The daily chart has shown a significant rise for two consecutive days and is now approaching the bottom resistance area of $1,780-$1,830 from the end of March. The technical deviation is relatively high, and it may enter a period of oscillation and consolidation in the short term, waiting for the moving average support to shift upwards.
The 4-hour chart indicates that ETH has entered a high-level consolidation phase, with key short-term support at $1,760. If it stabilizes and breaks through $1,950 with volume, it may initiate a second wave of upward movement, targeting around $2,100.
In terms of operations today, focus on the support level of $1,760-$1,740 below and the resistance range of $1,805-$1,825 above.
