$BTC Currently, there are two possibilities for the market to climb.
1. A wave of good news in the evening or a statement from a big player in the market could release a strong bullish signal, then the market could form support in the current range of 107800-106800, starting a push towards 109800 and 112000.
2. First, create a deeper pullback to induce panic; if it briefly dips below 105000, then make a quick rebound at night + accelerate upward, trapping a new batch of shorts and achieving a breakout to a new high.
However, it is important to note that a significant pullback will inevitably release a lot of shorts that were positioned at low levels last week. It depends on whether the market makers are willing to do so. Overall, the trend is still bearish under the current big trend, and we should first observe the strength of the downward movement and the news in the coming days to assess the gap below.
Family, Ethereum is currently stuck at 2750; it’s a matter of life and death! If it breaks down, it may plunge all the way; if it holds, who knows, we might see a big rebound!
Recently, Ethereum's decline has been too painful; it just reached 2878 and was knocked back, dropping directly to around 2760. The originally bullish sentiment has been doused with a bucket of cold water!
Ethereum has dropped nearly 2% in a day, and the bulls see it not going up, leading to profit-taking, coupled with the bears pushing down hard. Technical indicators are currently in a tug of war, and the overall market is developing sideways, with the daily chart remaining stable.
The key point is to watch 2750; if it holds, it may rise to 2800-2820 later. However, many bulls are trapped; once it goes up, there will be eager sellers. But if it breaks below 2700, the market is likely to turn and continue to test the downside.
Now, the four-hour chart also shows undercurrents; it looks stable but is actually quite weak. The bulls are hesitant like shoppers haggling for prices and are afraid to act. Unless the RSI rises above 50 and is accompanied by a MACD golden cross, there is little hope for a rebound. The current market is very unpredictable; it could either be a rebound starting point or a trap for further declines, with high risks! It is still recommended to focus on quick short-term trades.
I advise everyone not to rush to buy the dip, first pay attention to the movements at the two positions of 2700-2750. If it holds, there is a chance for upward movement; otherwise, it may continue to dip deeply. If you really want to enter the market, you should wait until the shorts are fully released, or wait for positive news. The market is still adjusting its direction. Pay attention to the shorts buried below; this wave may be a chance to escape, so don’t make reckless moves!
Later, Yumi will continue to update on the Silk Road. If you are worried about not understanding, Yumi will always be online to support!
