Evening Review of the Cryptocurrency Market and Trend Analysis: Key Points of Bitcoin, Ethereum, and SOL
Good evening, brothers! This weekend quietly concluded amidst the market's festivities. Looking back at this week, the cryptocurrency market has seen a week of continuous upward movement, and investors holding spot positions have generally reaped considerable gains. However, the current market FOMO (Fear of Missing Out) sentiment is intensifying, and the more we feel this way, the more we need to remain calm. I choose to patiently wait for a pullback opportunity to avoid blindly chasing the rise.
Today, Bitcoin attempted to rally but failed to break through the previous high and began a minor pullback. It is worth noting that Bitcoin only had a slight pullback, while some altcoins experienced declines of 3-5%, indicating increasing market differentiation. If Bitcoin wants to initiate a new round of upward momentum, it needs to successfully break through the 105,000 level; otherwise, short-term pullback risks still exist.
Nightly Market Analysis and Trading Strategies for Various Cryptocurrencies
1. Bitcoin: Focus on the critical support level of 104,000.
◦ Holding Support, Continuing Uptrend: If the price stabilizes above 104,000 at a minor level, the bulls are expected to continue challenging the previous high of 104,980; once broken, the subsequent resistance levels are 105,750, 106,400, and 107,255.
◦ Pressured and Pulling Back, Triggering a Correction: If the previous high cannot be broken and the price falls below 104,000, a pullback will start on the hourly level, with subsequent support levels at 103,330, 102,350, and 100,950.
2. Ethereum: The core level of 2,520 determines short-term trends.
◦ Closing Stabilization, Restarting Upward Movement: If the closing price stabilizes at 2,520 on the 1-2 hour level, the hourly-level pullback will end, and the market will continue to rise, with resistance levels at 2,560, 2,605, and 2,660.
◦ Failing to Stabilize, Continuing Pullback: If the closing price cannot stabilize above 2,520, the market will continue to pull back, with support levels at 2,457, 2,381, and 2,320.
3. SOL: The key support level of 174.3 is the dividing line between bulls and bears.
◦ Holding Support, Ending Pullback: If the price stabilizes above 174.3 on the 1-2 hour level, the minor pullback will end, and there is potential for a rally, with resistance levels at 177.6, 180.3, and 186.8.
◦ Breaking Support, Continuing Adjustment: If the closing price falls below 174.3, the market will continue to pull back, with support levels at 168.8, 164.5, and 161.3.
Risk Warning
The current market sentiment is overheated, and short-term volatility risks are increasing. It is recommended to closely monitor the breakout situation of key points for various cryptocurrencies and to strictly set stop-loss and take-profit levels to avoid chasing highs and panic selling.
