Market review and analysis
BTC is currently in an independent market trend. The daily level closed yesterday with an upward pin bar but with a small bullish close. Today, it directly fills this trend, and under normal circumstances, BTC's performance is likely to show an upward rhythm. Although today's new high is not very high, the volume is relatively strong, and there is no selling pressure at this position. However, considering the overall market, there is currently no significant volume environment, and the market is still in a weak phase. The view on the current market remains unchanged, especially in the current phase of ETH's trend. Yesterday's close had an upward pin bar, but today's further push lacks BTC's strength. Overall, it is advisable to remain in cash and wait. If BTC begins to pull back, it will certainly lead to a significant stage of correction, which presents another opportunity for us to enter. Be patient and do not let slight market fluctuations affect your current perspective and initial decisions. Although BTC is strong, it does not mean the market is very strong.
Today's highlights
BTC market trend, yesterday's intraday level saw a pullback to around 104000 on the four-hour pin bar, followed by a large bullish candle on the four-hour level, signaling an upward trend. However, this signal is still within the initially set high point range of 106000-108000, so the current high point is still a resistance level. In the intraday performance, the focus should first be on the 108000 line. Below, the first line position to watch in the intraday level is whether 106000 will break on the four-hour level. If it breaks down, we can look at the low point from yesterday's intraday at around 104000. The key focus remains on the 100000 level on the daily chart, which is currently the main defense position. This is similar to the previous observation of this resistance; if this position breaks, it will lead to a flood of selling.
The current trend of ETH is showing a pullback with pin bars moving up and down in the past two days, with the lowest point around 2300. Yesterday, after pushing up to around 2600, it retraced during the day, rebounding from the support at around 2450, which aligns with the first support point from yesterday's intraday. Today, a slight rebound to around 2560 is also within the resistance area provided yesterday. Based on the current resistance positions, it looks bearish. The first line of support today can be directly monitored in the 2400-2450 range, while the upper resistance remains unchanged in the 2560-2600 range. Overall, if the daily level breaks below 2380, the market will likely drop similarly to BTC, and attention can be focused on the 2100-2200 range.
