Market Review:
Yesterday's high for BTC: 106,290, low 104,622, fluctuation of 1,668 points; yesterday's high for ETH: 2,482, low: 2,376, fluctuation of 106 points; yesterday was Tuesday.
BTC and ETH were mostly in a fluctuating market yesterday during the day, with not much volatility. After ETH broke the intraday high, it reached a major resistance level near 2480, and BTC also rose to the range of 106,000-107,000. This rebound has roughly brought the price back to the starting point. Yesterday, altcoins followed with a slight increase, but it was just minor-level increases and not a true market start; however, market liquidity is indeed increasing. Currently, we are waiting for the market to enter more prudently, not necessarily waiting for a much lower position. Remember, a quick rebound is not the bottom; the true bottom will not easily rebound. This sharp rise is not a strengthening after the bottom has been established, but rather a rebound from the support level plus the influence of external factors that has made it relatively strong. The market should next test the bottom again, and the key is whether the second test creates a new low or builds a bottom; then we can see if BTC has reached the target layout.
Today's Wednesday Highlights:
BTC
The current BTC market is at a defensive position on the edge of a daily-level downtrend channel. According to the current intraday trend and daily-level trend, the current position is a resistance level at a high point. The four-hour level is also touching the third key point coming down from the previous high. Based on the current high point, the next wave of the market will likely come to around 96,000, and the intraday support level can be observed in the range of 102,000-104,000.
ETH
The ETH market at the daily level is also reaching this position, at a critical daily-level point. The new high achieved yesterday broke through and looks at the resistance level in the range of 2480-2520. Yesterday, it reached near 2480 within the day, and today we can still pay attention to this resistance level to short ETH. According to the current daily-level trend, the focus is still on the range of 2000-2200. The intraday trend should focus on the first line of support in the range of 2320-2360 at a minor level, with particular attention needed on the support point near 2260.
Altcoins
Still the same saying: Don't blindly be bullish just because the market is rising, and don't just be bearish because the market is falling. Remain calm with every market fluctuation. The worst thing in trading is to get carried away; those who chase highs and cut lows are often the same group of people. To establish oneself in the market, one must overcome this tendency to go with the flow—be not blinded by optimism during rises, and not let panic dictate judgment during falls. Examine the essence of the market from a rational perspective.