Market Review and Analysis
BTC had no major fluctuations over the weekend; a normal pullback was expected, which doesn’t really count as a significant pullback, just a regular fluctuation. The support point given on Saturday was around 93,000, while the support on Friday was in the range of 92,500-93,600. Today, the market reached this range value. ETH's lowest reached around 1,750, and the pullback position given on Saturday was around 1,760. It's unrealistic for the market to shoot up all at once; the current market is just a rebound, not a reversal. Therefore, it's normal for the market to fluctuate. I also don’t expect it to rise significantly all of a sudden, as that would not be good; rapid rises can lead to instability and quick pullbacks. This week, with the monthly line closing and the weekly line opening, we will look at the upward movement after the pullback. So, several key positions need to be monitored this week. Remember, this week will still be mainly focused on rebounds, and pullbacks are opportunities to enter the market.
Today's and this week's highlights
This week, we should focus on the support level around 92,000 for BTC. Currently, the four-hour level has touched a low around 92,700, and the intraday market's pullback has basically been confirmed. For the intraday level, we can first look for a small phase rebound. The support level for the intraday can be set around 93,000. As for the points of attention above, the first line is still to focus on the 96,000 point level that was not broken last week. The first key range to watch this week is between 96,000 and 98,000. If it just reaches this range without exceeding 98,000, it will likely pull back to the support level again. If it breaks 96,000 and does not reach 98 before pulling back, the support defense line can be focused around 94,000 before looking for upward movement. The monthly line's closing is basically confirmable as a large bullish candle; it depends on whether the monthly line can close at 96,000. If the monthly line closes on Wednesday night, then Thursday's opening of the monthly line will also be quite important.
This week for ETH, the first support level to focus on is 1,760, and the second line is the key support area of 1,680-1,720. If the second coin is not weak, there's no need to see 1,680, and we can just monitor the level around 1,720. Currently, on the four-hour level, there’s a synchronous pin around 1,750. On the four-hour level, we also need to observe this low point. If it does not break and rebounds, considering the weakness of the second coin, we should focus intraday on the level of 1,820-1,860. Subsequently, we will focus on the daily level and this week's resistance area of 1,960-2,000. The support defense position for the intraday level only requires us to look at today’s intraday low point.
For altcoins, we can continue to pay attention to: S, DOGE, SOL.
Last week, we mentioned SUI reached the target range of 3.8-4.0, with a high of around 3.8 before starting to pull back. On Friday and Saturday, I advised not to chase it. If you want to enter the market again, you can wait to set a position around 3.2. The best entry point is around the range of 3.0-3.2. Today, the lowest was around 3.4, so there's no need to rush.
At the beginning of this year, we emphasized focusing on the gaming sector and the AI sector, and this viewpoint remains unchanged. Public chains can also be included slightly.
