This week, the market experienced a week of high-level fluctuations. In the first half of the week, it was in a correction phase. After ending the pullback yesterday morning, it started to rise, breaking through 9.6, and is currently around 9.7. This can be seen as the end of the fourth wave's sideways adjustment followed by the fifth wave's rise.
Looking at the current market, this wave of rise is obviously weaker compared to the previous three waves. Besides Bitcoin standing out on its own, no particularly independent varieties have been seen in the rise of mainstream and altcoins, and the profit-making effect is not as significant as in the previous wave.
From a technical perspective, the fifth wave usually indicates the end of an upward movement, so we should first pay attention to the overall height of this rise. Currently, both Bitcoin and Ethereum have 4-hour high point alerts. If formed, the short-term rise will come to an end.
Ethereum broke through 1850 yesterday, but the momentum was very small, with insufficient energy. The upper resistance is at 1880, and the lower support is at 1800. We will continue to monitor the 4-hour high point alert situation.
For Bitcoin, the short-term lower support is at 95500, and the upper resistance is at 9.8 and 100k.
