Bitcoin jumped 10% last week and turn positive once again.
ā Breakout Confirmed: Bitcoin has decisively broken out of the falling wedge pattern that persisted through late 2024 to early 2025. Historically, falling wedges are bullish reversal patterns and this one played out perfectly with a strong upward rally.
ā Horizontal Resistance Flipped: The previous resistance zone around $88,000ā$92,000 has been cleared. Bitcoin is now targeting its next key level at $109,356, and beyond that itās in price discovery mode.
ā MACD Bullish Cross: On the weekly MACD, a bullish crossover going to happen (highlighted with orange circles). Each previous MACD crossover on this timeframe led to massive upside movements, and the histogram is now expanding positively, suggesting strong momentum.
ā RSI Breakout: The RSI (currently ~58) has broken a long-term downtrend line and is now pushing higher. This breakout shows increasing strength and buying pressure, with no immediate signs of bearish divergence yet.
š£ļøRECENTLY: According to a report, South Koreaās People Power Party (PPP) has pledged to abolish the country's crypto exchange banking law if its candidate wins the June presidential election, aiming to end exclusive bank-exchange partnerships.š
Bitcoin and Altcoin Trend Analysis, Wealth Codes, Long and Short Attack Pointsā¦
BTC 4-Hour K-Line Trend: Resistance Level: 88523ļ½90469 Support Level: 85501ļ½83386
ETH 4-Hour K-Line Trend: Resistance Level: 1619ļ½1683 Support Level: 1540ļ½1486
Technical Analysis: 1. Bitcoin 4-Hour Period K-Line has decreased in volume (as of 7:18 AM), after 5 days of sideways movement in the Bollinger Bands, it finally chose a direction, breaking above the box resistance level of 85500 and moving upwards. Currently, it is affected by a 6-Hour Cycle Top Divergence pattern, and the price is experiencing a slight pullback. Please pay attention to the marked resistance levels above (if the price breaks the neck line resistance level with volume, a pullback can be an opportunity to get in ā ļø). Do not blindly chase highs; consider going long or making spot purchases at the marked support levels; 2. Bitcoin's daily and sub-daily cycle trend indicators show a multi-cycle resonance bullish trend, short-term operations should look to go long on dips; The BTC weekly K-Line indicates a sunrise bottoming signal š¶, consider making spot purchases around 82541; 3. Bitcoin 1-Hour Cycle K-Line shows a formless water pattern, indicating a future need for price pullback. For short-term trades, look to go long on dips. Once the price in the 30-Minute Cycle pulls back to the EMA60 average line, double bottom, or important neck line support, it is the best opportunity to enter long positions š„°; (Please set stop-losses and secure yourself with three protective measures for position management - there are instructional courses) {Contract Thinking}; Spot Trading Thinking: If the price pulls back to the important support levels marked above, you can consider entering long positions with light volume {Spot Thinking};
Investing involves risks, and caution is required when entering the market. The above analysis is for reference only! You can also consider corresponding allocations in mainstream coins, altcoins, and cryptocurrencies based on Bitcoin's correlation effect!
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Bitcoin (BTC) This morning it fell below $77,000, and traders are generally bearish, focusing on $74,000 - $76,000 as the downside target, with $87,000 being the resistance level. A 36% pullback from the $110,000 high is a normal adjustment in a bull market, and it may find a bottom around $70,000. The prediction of a bottom at $70,000 is based on the technical pullback range; if U.S. stocks decline or traditional financial risks increase, this support level may be tested or even breached.
Ethereum (ETH) Has fallen below $1,900, and market sentiment is pessimistic. ETH may face further pressure in the short term due to whale sell-offs and liquidation pressures. If bearish sentiment spreads, the likelihood of a drop to $1,500 or even lower increases.
The significant declines in BTC and ETH coincide with the U.S. stock market's 'Black Monday,' indicating an enhanced correlation between the crypto market and the macroeconomy. This reflects concerns about economic recession and expectations of Federal Reserve policies. Trump's policies may drive up inflation, but if the Federal Reserve does not cut interest rates, liquidity tightening could exacerbate downward pressure on the market.
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