8.2 Market Trend Analysis:
The market script has been on the edge these past two days. The day before yesterday, it was mentioned that the range was between 114-112, and this was discussed in the previous market analysis.
This wave of the U.S. stock market has dropped sharply, and the cryptocurrency market has also shaken a bit. Looking at it, this wave of consolidation is almost over. $BTC has been stagnant at high positions, according to my earlier operations, I would consider going short if it reaches 140,000. Real profits are what matter.
This wave's key support is at 110,000. If it can hold, it may push higher. However, if it oscillates for too long, it could be dangerous. $ETH has seen a significant pullback, dropping directly by 500 points, breaking previous lows. If it cannot stabilize in the short term, it may have to retrace to just above 3000.
Let's take a closer look at BTC's trend. In the past three upward movements, there were oscillations followed by rises, but this time the breakout is just a small bullish candle, indicating that the bulls are clearly losing strength, and the trading volume has not kept up — the previous two times had increased volume, but this time it was lower volume breaking the previous high.
In summary: BTC is still in a bull market, but the upward momentum has begun to weaken, and next we will see if it can pump in small steps! Compared to this round, it is still a little short of the heat needed for 140,000.
Currently, the focus is actually more on ETH, as there are more people in altcoins, and ETH's strength can drive the altcoin market's activity. However, BTC remains the benchmark; the bull market is still here, so there’s no need to be too pessimistic, but also don't be too greedy.
