#BTC/#ETHmarket analysis: ETF heat is fermenting, the market is rebounding, pay attention to resistance breakthroughs, and act after careful consideration!
At 5 am today, Bitcoin fell again, but at 9 am, the Asian market rebounded, which was the opposite of the decline at 9 am last week. At present, after last week's decline, the selling pressure in the Asian market has been released for a period of time. In the afternoon, the market once again fermented the heat of Ethereum ETF, and the market rose due to this abnormal movement.
The popularity of Ethereum ETF has been delayed for about 2 weeks, and this week will be the most likely time for ETF to be approved. During this period, the popularity of ETF has been consumed a lot. I personally expect that the rise brought by Ethereum ETF may not be as much as two weeks ago, so the current price rebound must pay attention to the breakthrough of key resistance and act with caution!
BTC：
The middle line of the daily Bollinger Band: 61,000 is the key resistance. If this position is broken and stabilized, the downward trend of the daily line will slowly change. In the past month, the price of Bitcoin has always been running at the lower track of the daily Bollinger Band, causing the moving average to move down continuously. At the same time, this position is also near the daily MA120. The price can break through and return above 120, which is also a positive trend from a technical perspective.
4-hour resistance level: 58,700, the resistance level that needs to be paid attention to in the current rebound. Simply put, only by breaking through and standing firm on the small-level 4-hour Bollinger Band can the price charge towards the higher daily resistance.
Weekly support level: 57,800, the lower line of the weekly Bollinger Band, it is very important to hold this position this week. If it continues to fall below, the downward trend may expand from the daily level to the weekly level. On the contrary, if the price returns to the upper weekly Bollinger Band trend, it will have no impact on the weekly trend.
RSI: Daily index is 39, which is a normal index and will not trigger oversold or overbought conditions in the short term.
ETH：
The middle line position of the daily Bollinger Band is 3330. Only if this position is broken and stabilized will the downward trend at the daily level be changed or repaired. Otherwise, if the daily line continues to fall, the decline may continue.
4-hour resistance level: 3100. Points to note for short-term breakthroughs are similar to Bitcoin. Only after a 4-hour breakthrough can we see a higher daily upward breakthrough, and we need to look at it one level at a time, from small to large.
Weekly support level: 2830. The defense of this position will determine whether Ethereum will fall below the weekly trend. It can also serve as the current main support for the decline.
RSI: Daily index is 39, the index is normal and will not trigger oversold or overbought in the short term.
In any case, the current trend on Monday is still more optimistic than last week. The selling pressure in the Asian session did not appear, and there was a significant rebound in the afternoon. I hope that the bullish sentiment will continue. Finally, it is emphasized that if the price cannot break through and stand above the daily resistance, there is still a high possibility of a shock decline again.
#BTC走勢分析 #ETH🔥🔥🔥🔥 $ETH
