BTC:
Analyzing BTC. Can't get around the weekly chart. It's still the old chart; we've been using it for half a month now.
The key right now is interest rate cuts:
First, interest rate cuts lead to a surge: a complete revival under the institutions' pull. A thorough pull that invalidates this top divergence. Indicators recalculated.
Second:
Like history: good news leads to a surge, but then turns into bad news. Still on a deep correction. On the surface, this possibility seems the largest. However, this bull market is different from the previous two rounds. Originally, the bull market was led by institutions, and their cycles are quite long. They won’t trade recklessly due to short-term fluctuations.
BTC: Intra-day hourly level.
On Monday we mentioned the breakthrough of the downward channel, so the most likely scenario is to move upwards. Now, as we illustrated, a new upward channel has formed.
So our view remains unchanged, we just need to adjust a bit. The position of support and resistance.
Currently, the price has touched the upper channel and started to adjust. Our first support below can be 114000, 113000.
Two positions. 11.4 is a minor central support. 113 is the central level at the hourly level. Both of these positions are where we look for signals to go long.
The pressure above is still at 117000.
ETH: It's quite interesting.
Daily ETH
Daily channel, broke down, rebounded back. This means if it rebounds back and continues to drop, then there will be a big wave below.
If it's a false drop wave, then we will return to the channel and continue to rise. Target 6000
Everything is in the interest rate cuts.
Intra-day, we need to look from the 1-hour view.
Currently, the hourly level is rising very strongly, MACD is above the zero axis, the structure is complete, first buy, second buy, third buy. If the support below is at 4480~4500.
Upper division 4700.
Let’s play in this range for now.
SOL is very strong, rising above the channel. Since I'm in the car, I won't consider increasing my position at this point. Just watching to see if it's a false breakout, this rebound is very strong, and it may break out of this upward channel and accelerate upwards.
