#ETHmarket analysis: Failed to break through, will the last day of this week bring opportunities? (Homework assigned in advance)
Thursday's CPI was positive, but it brought about the opposite effect. After the U.S. stock market and the crypto market rose slightly, they were followed by a correction.
The daily level continues to maintain a downward trend, the key resistance continues to move downward, the rebound height is increasingly limited, and a breakthrough is imminent. The price still completes a 4-hour oscillation during the day, neither hot nor cold. The expected Asian market did not bring buying volume, but instead brought a small decline at 9 am, and the market sentiment is still sluggish. It is estimated that we can arrange weekend tasks for BTC/ETH in advance.
Bold assumptions, careful analysis, welcome to Uncle Cat’s encrypted “channel”
BTC：
Breaking through 59,600, the key daily resistance that has been in place for the past two weeks, is now moving down. If it can break through and hold this position in the early hours of Friday, everyone will be happy.
Defend 57,700, the lower line support of the weekly Bollinger Band. If the key resistance of the daily line cannot be broken in the early hours of Friday, but if the price can briefly return to the weekly Bollinger Band, it can be regarded as a signal of short-term stabilization. On the contrary, if this position cannot be defended and the weekly line falls below, the risk of decline will be greater.
If it continues to fall, the support of the 55,000 daily line will be observed.
ETH：
Breaking through 3235, the key resistance level on the daily chart, is also continuing to move downwards. The significance of this position is the same as that of BTC.
Defend 2830, the lower line of the weekly Bollinger Band is supported. The current price of Ethereum is stronger than Bitcoin. The price is still within the Bollinger Band oscillation range. As long as this position is not broken, there will be no major problems.
RSI: BTC 39 ETH 38, both relative strength indices have fallen back. Although they are normal values, the sentiment has clearly fallen back.
Summarize:
Continuing with the viewpoint of the past two weeks, if the key resistance of the daily line cannot be broken, as the moving average moves down, the pressure point will limit the price rebound height, thus leading to a continuous shock and decline in the daily line. Therefore, a breakthrough is crucial.
Moreover, Bitcoin is currently weaker than Ethereum, and further decline may still test the daily support, because the weekly line has already broken. Most importantly, the weekly moving average continues to rise, which is contrary to the price. If the weekly line is updated next week and there are signs of downward movement, the future decline may be larger and more difficult.
This week's CPI cannot bring a better opportunity to the market, so the only thing left is the Ethereum ETF next week. At present, it seems that the bullish sentiment does not have much reason and emotion to launch a decent "charge"!
The weekend homework for BTC/ETH is arranged in advance. Let's see how well the homework is completed tonight and tomorrow.
#BTC走勢分析 #ETH🔥🔥🔥🔥 $BTC
