Will Bitcoin Bottom and Trigger a Surge?
Bitcoin oscillated around 102000 near 103300 yesterday before accelerating downwards to a low of around 98600 last night, with continuous increase in open interest. Ethereum fell from around 2310 to around 2100. The strong involvement of the United States in the Middle East situation has increased fear in the global financial markets, and the market's open interest continues to rise.
Bitcoin experienced a waterfall decline over the weekend, temporarily dropping below the 100000 mark to reach the 98600 line. After a four-hour close, it rebounded somewhat, with overall rebound strength being relatively strong, currently oscillating around 101000, but still not breaking the downward trend overall.
For Bitcoin, pay attention to the resistance near 102500 and 103000 above. Watch for strong support near 97200-95800 below. For Ethereum, focus on the resistance near 2280-2310 above and the support near 2150-2100 below.
In the short term, it is currently in a phase of oscillation and repair, with rebounding momentum showing some increase, but not strong enough to change the overall downward trend. Considering the star and flat bottom patterns in the candlestick formations, along with the oscillating characteristics presented by indicator analysis, the price will likely oscillate and consolidate in the range of 99000-102000 for a while. In the short term, we will see if it can break through the main resistance at the 102000 line; if it does break through, there could be a direct V-shaped reversal, testing the strong resistance position at 103500 on the daily line!
It's better to enjoy together than alone; you reach out, and I can pull you ashore!!
SUI TURMP BONK PEPE OM SOL PNUT
