Last night, US stock markets were closed, but the crypto market was turbulent! BTC/ETH movements once again sounded the alarm for the market—prices are still in a fluctuating range, but the downward pressure is becoming increasingly evident; remain alert for a 'waterfall-style correction'!
Message Interpretation
Global market risk appetite is declining
The closure of US markets did not bring a breather; instead, it left the crypto market lacking external support, increasing risk-averse sentiment. Meanwhile, the dollar index hovers at high levels, tightening liquidity, which exacerbates selling pressure in the crypto market.
Technical indicators are releasing strong bearish signals
After BTC dipped to around 107250 yesterday, it had a technical rebound but faced strong resistance at the 109900 level. The 4-hour Bollinger Bands have narrowed, indicating that a new round of volatility is about to arrive.
ETH's performance is weaker, with the 4-hour moving average under pressure, MACD showing a clear death cross, and the price has fallen back into a downward channel, where short positions dominate.
Market sentiment has sharply turned bearish
Data on capital flow from major institutions shows that the inflow of stablecoins into exchanges is increasing, with some funds preparing to cash out, and panic sentiment is beginning to spread.
Key interval prediction
BTC: The 109300-109600 range is being pulled back and forth, but support at 107000-105000 is precarious. If it breaks below, it may trigger a chain reaction!
ETH: The 4330-4360 range is firmly suppressed by the bears, targeting a drop to 4200-4250. If it loses 4200, it will trigger a deep correction.
Old Zhu's Summary:
In the current market, the short-term rebounds of BTC and ETH are both 'bull trap', and the real drama may be the resurgence of bears. From both the news and technical perspectives, the market has entered a 'high-risk' zone. Once key support is lost, it will welcome a stormy washout!
Conclusion: Be on guard for negative attacks in the short term and maintain a high level of vigilance! The crypto market may face a 'black storm'!
The market changes rapidly; the real way to make money is not by chasing trends but by anticipating them! I am Old Zhu, focusing on in-depth analysis of news and technical aspects in the crypto space, helping you find direction in the storm.
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