Notification
Yesterday, it was mentioned that if Bitcoin wants to break through the previous high, it should absorb Ethereum.
It's advised that everyone should not chase Ethereum. Indeed. After Ethereum's favorable CPI news came out last night, it pulled up for a moment and then was smashed down by Bitcoin. It's hard to hold.
Today, after Bitcoin finishes the daily line, objectively speaking, the current pattern is about 55% bullish and bearish. It's not difficult to look at, nor is it good to look at.
However, the closing price is still above the support level.
Bitcoin is above the support at 108,500.
Ethereum is above the support at 2,730.
The 2-day and 3-day lines for Bitcoin still look good in terms of pattern. It belongs to the adjustment K-line in the rising stage.
The exchange rate of Ethereum to Bitcoin is still very strong at the moment, having temporarily broken through the MA20 resistance of the weekly line. It is currently facing resistance around 0.026. However, the pattern looks great. It should be able to break through this exchange rate.
The U.S. stock market also saw a pullback after a surge yesterday. Currently, the index is above 19,500 points. It is also supported by the 2-day moving average. The daily line pattern is somewhat poor.
Summary.
Objectively speaking, both bullish and bearish scenarios are possible, as the daily line patterns are somewhat poor for both the U.S. stock market and Bitcoin.
From a subjective personal perspective, I am still bullish for now, as everything is above the support level.