Strong breakout, reaching the potential zone's top. Currently, there is still strong bullish momentum. After a minor consolidation and pullback, it may test the previous high again. At this position, it is suitable for swing long take profit. For bears, if they want to short, they need to wait for a failed breakout/fake breakout before doing so.
Bitcoin has stopped falling at the hourly level, experiencing fluctuations and rebounds, with key resistance at the 106 range. If it tests this level and encounters resistance, it is a position for bears to attempt shorting. Key positions for bulls to go long: 103000 range, 101800 range.
After Bitcoin fell below the structure, the rebound failed and it continued to break down. It has not accelerated or consolidated in the narrow channel decline, and there is no stop-loss signal. The key horizontal support range below is 101,800.
Ethereum failed to break through the consolidation range and continues to accumulate momentum. The bottom of the daily consolidation range is 2400-2480 The key position of 2600 at the hourly level was broken, and a new low was formed LH +LL can be seen as starting a bearish trend in this cycle Later, we can see whether some key supports below have stopped the decline Focus on the bottom of the large range at the daily level 2400-2480
Bitcoin fell rapidly after breaking the key support of 106480 (if you get up early, it is a good short-term oversold rebound to go long). In the oversold rebound, it tested the support and resistance level of the price range of 106400. If the price breaks through, it may continue to rebound and form a shock channel. If the resistance level is blocked and weakened, there is a short signal and then sell.
The top of the Bitcoin range encounters resistance and declines. In a volatile range, it's best to sell high and buy low. Altcoins should ideally follow this rhythm as well. If you're looking to buy, it's best to wait until Bitcoin reaches the bottom of the range.
The background of the Bitcoin market is a large range oscillation after extreme rises and falls, with buyer liquidity and rapid gap resistance breakthrough failures. A small-scale rapid channel and double top reversal downward are present. Currently, the high point pressure may form a downward oscillation channel, or a converging triangle needs to be observed. For long trades, wait at the bottom of the range to enter, and do not participate in the middle. The best opportunity for a long entry: the third panic sell-off in the oscillation range.
Bitcoin's weekly closing is OK. Although it faces some selling pressure, the overall trend is still continuing. There is no short signal for the time being, and the main trading direction is still long. The highest can be seen at 135,000 (equidistant target)
Bitcoin support position has a small-level three-push wedge reversal, and the two targets for long positions at the hourly level are (109800, 111890) Stage profit-taking, and we will talk about it after it breaks through.
Bitcoin overall remains strong with narrow range fluctuations and consolidation. Intraday trading mainly focuses on going long in the lower part of the range (1103-1106xx), going long on failed counter-trend breakouts (109xxx). As long as the consolidation doesn't lead to a sharp decline, the main opportunities are in altcoins.
The upper boundary of the channel diverged severely and fluctuated violently, and finally broke through upward. The side that followed the trend won a great victory, but many people should have been washed out, and can only continue to wait for the next structure to enter the market.
Pay attention to the callback after the extreme speed. You can try to enter the market in batches in the 109000 area, with targets: 112000 and 114000. If it falls below, find support in the oscillation range at the top of the channel to rebound and break through.
Look at the structure instead of the price. Looking at the callback does not mean being bearish. At present, Bitcoin does not have the conditions for being bearish, and the trend is still bullish.
At the top of the Bitcoin channel, long positions can start to withdraw in an orderly manner, leaving a little bit for a potential breakthrough, which shouldn't be that easy to break through. Before the breakthrough, there may be a narrow range of fluctuations, and then a choice will be made to break upwards or downwards. Both long and short positions should act according to the breakout direction of this narrow range.
Bitcoin's previous high breakthrough failed, with a huge divergence between bulls and bears. Currently, the closing looks bearish and relatively strong. First, we look at a large volatile range (bearish bias), with two key support levels at the bottom of the range. If it breaks down, we will look for support in the 97-98 range.
Bitcoin is currently experiencing relatively orderly range fluctuations, with demand rebound at the bottom of the range, forming a small double bottom. The momentum is still quite strong; as long as it doesn't break below the previous level, the bottom of the range is a reason for bullish buying. If it tests the top of the range for the third time, and if it is a strong consolidation, the probability of a breakout will be higher. Bears will short after showing weakness or after a failed breakout.
Bitcoin is experiencing fluctuations and pullbacks, with rebounds no longer reaching new highs. In the smaller time frames, LL and LH are in a downtrend. It is expected to test the price range of the previous swing low, which is between 101-101xxx. This range is crucial for the battle between bulls and bears. Bulls can wait for support rebound signals or a false breakdown to go long. If it breaks down, it may test the 97-98 range below.
Large oscillation range, potential minor support in the middle of the range 103-103200. If it breaks down, look for support in the lower purple area for a rebound. If it pushes hard, taking a break is normal; this is a good thing, altcoins have a time window.
After the Ethereum surge, a new consolidation zone has formed here, with minor support at 2435. In short-term operations, you can short at the high end and long at the low end of the 2600-2435 range. If this range is broken, look for support in the two gray areas below to make a rebound. If the range is broken upwards, the key bullish targets are 2700 and 2850.
After Bitcoin's weekend consolidation, the weekly close has formed a huge bullish candle, showing unlimited strength. There is a potential upward channel at the hourly level, with key targets for bulls at 106000, 108000, and 112000. If the channel is broken, the support at 102000 is a good long position.
Bitcoin's current short-term support can be set at 102-102200. If it falls below this level, then look for support in the two gray areas below to rebound or chase the breakdown. If it does not break down, the outlook remains bullish in the short term.