Yesterday, Bitcoin and Ethereum were significantly impacted by news and sharply declined, but rebounded in the latter half of the night. From a technical perspective:
- Bitcoin 4-hour level: The Bollinger Bands are opening downwards, the RSI indicator is in a neutral to weak zone, and the KDJ death cross has not yet fully recovered, showing a divergence from the view of 'bearish volume decreasing turning bullish.' It is crucial to watch whether the price can effectively break through the key resistance level of $95,500; if it breaks, it can validate the bullish trend's effectiveness; otherwise, it may continue to fluctuate.
- On-chain data level: The net inflow of spot ETFs has decreased by 23% from its peak, the open interest has increased, but the funding rate remains negative, indicating that the main capital's sentiment is cautious. If there is a lack of sustained volume support, a price break above $96,000 could trigger a concentrated bearish counterattack.
- Daily level: The MACD indicator has produced a golden cross, but the KDJ high-level death cross and RSI top divergence at the 4-hour level create a resonance risk, caution is needed for short-term high rebounds. Daily operations are advised to mainly adopt a low long strategy.
Bitcoin: Long at 93,200-93,700, target towards 95,500
Ethereum: Long at 1,750-1,780, target looking up to 1,850
