1. Review of yesterday

Yesterday during the day, it seemed that Bitcoin was about to engulf the previous day's bullish candlestick, potentially forming a large bearish candlestick. However, after the US stock market opened, market sentiment reversed sharply, and BTC quickly surged, currently back around $106,000.

The hourly trend shows intense fluctuations with prices not changing much, but many people's positions have been shaken out.

Ultimately, the daily candlestick closed with a long lower shadow and a short upper shadow, with trading volume increasing by one-third compared to the previous day, indicating that the bulls are still strong.

BTC: Yesterday's low was 103,011, the high was 106,618, with a fluctuation of 3,629.6 USD and a volatility of 3.4%

ETH: Yesterday's low was 2,313, the high was 2,588, with a fluctuation of 275.21 USD and a volatility of 10.63%

2. Today's analysis

Current BTC price: $103,572

• Technical analysis: The daily RSI is at 62, close to the overbought area but still has room for upward movement; a bottoming rebound pattern appeared on the 4-hour level, but with a long upper shadow, indicating short-term upward pressure.

• Chip distribution: The concentration of chips has decreased from 15.5% to 8.2%, which may indicate that large holders are diversifying their positions or starting to take profits, increasing short-term volatility.

• Pattern analysis: Currently in a converging triangle structure, with trading volume continuously decreasing, which is a typical signal for a breakout. Yesterday's rapid decline and rebound have basically completed the rhythm adjustment for this week; attention can now shift to the rebound of altcoins.

BTC support levels: 102,175 / 100,976 / 99,565

BTC resistance levels: 103,658 / 104,744 / 105,000

Medium-term resistance levels: 110,000 / 120,450 / 131,000

Medium-term support levels: 101,300 / 99,300 / 98,700 / 95,600 / 92,230

Strategy recommendation: It is suggested that cautious traders continue to look for buying opportunities in the 8-hour and 12-hour EMA52 line area (101,380-99,300).

Current ETH price: $2,398

• Short-term trend: The daily KDJ and MACD both show a decrease in bullish momentum, the 5-day moving average is under pressure, and the price has fallen below the 10-day moving average, facing short-term pullback pressure.

• Medium-term structure: The 12-hour level formed a KDJ and MACD death cross, with RSI close to 50, in a neutral zone, indicating that the price is expected to remain in a state of fluctuation.

ETH support levels: 2,445 / 2,406 / 2,364; the key support level is at 2,300.

ETH resistance levels: 2,495 / 2,513 / 2,553; if it breaks 2,553, it may look to test 3,000 USD.

Summary

The main upward trend of BTC is still ongoing, but there is a risk of a bearish divergence in the short term. It is expected that after reaching new highs, there will be a pullback. ETH is under short-term pressure, and it is recommended to watch whether it can hold the key support area. After a major market move starts, the window for altcoins to catch up may be approaching.

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Key focus for the latter half of the week: BTC challenges 110,000, altcoins' rebound window, structural opportunities in mainstream coins!