5.9 Night trend analysis

Good evening, dear friends ☀, the tranquility of the night has not put the market to sleep; instead, it is full of undercurrents, opportunities, and challenges.

Bitcoin: Sideways game, waiting for a breakout

Currently, Bitcoin is showing a top-sideways trend on the 4-hour timeframe. A previous strong surge has now led to sideways movement, resembling a calm beach after a tide has receded, indicating a temporary pause in this upward trend. In this sideways range, the forces of bulls and bears are in a delicate balance, and a breakthrough by either side will break the deadlock and lead the trend in a clear direction.

At night, pay close attention to the top 104365 and bottom 102360 of the sideways area, which are two key points. As long as the price of Bitcoin stays above the bottom of the sideways area 102360, the rebound momentum of the smaller timeframe is likely to continue. At this point, the resistance level above 104365 becomes particularly important. If it can break through successfully, Bitcoin is expected to climb further upwards, challenging higher levels such as 105395, 106400, and even 107255, starting a new round of upward momentum.

However, if Bitcoin unfortunately falls below the bottom of the sideways area 102360 at night, the trend will likely turn downward, leading to a correction on the 1-2 hour timeframe. At this time, the support levels below 100950, 99200, and 97730 will become the focus of investors' attention. They will provide some buffer for Bitcoin, but if the support levels are lost, the downward space of the trend may open further.

Ethereum: Sideways consolidation, rebound expected

Currently, Ethereum is also in a sideways state on the 1-2 hour timeframe, indicating that the market is in a wait-and-see and adjustment phase. At night, the top 2389 and bottom 2312 of the sideways area will become key dividing lines for Ethereum's trend.

As long as Ethereum's price firmly holds above the bottom of the sideways area 2312, a smaller timeframe rebound is worth looking forward to. The top of the sideways area 2389 is the short-term resistance level for Ethereum, and if it can effectively break through, Ethereum is expected to further expand upward space, challenging higher levels such as 2436, 2490, and even 2550.

Conversely, if Ethereum falls below the bottom of the sideways area 2312 at night, the trend will turn downward, leading to a correction on the 1-hour timeframe. At this time, the support levels below 2260, 2203, and 2156 will become Ethereum's defense line, and it is crucial to observe the strength of support at these levels to gauge the depth of the downward trend and the extent of the adjustment.

SOL: Key point, a decisive move

For SOL, the position of 167.5 is particularly critical at night. As long as the smaller timeframe does not fall below this level, the rebound for SOL will continue. The resistance levels above 172.7, 176, and 180.4 will become important obstacles during SOL's upward process, so it is necessary to closely watch SOL's performance at these levels to assess whether it can successfully break through and rise further.

However, if SOL breaks below the key support level of 167.5 at night, the 1-hour trend will enter a correction mode. At this time, the support levels below 164.3, 161.3, and 158.7 will become SOL's important defense line, and caution should be exercised regarding the further downward risk of the trend.

Midnight trend analysis is for reference only! Wish everyone a happy weekend!!!