24/11/13 BTC accelerated upward and then shifted to consolidation, similar to breaking through $32,000. Can the altcoin recovery trend continue?
Bitcoin faced resistance at $90,000 yesterday after a sharp drop of nearly 5,000 points, a decline of 5.4%. It continued to rebound to $89,876 (BN data) in the evening before falling again. After accelerating upward from $74,000, BTC saw a sharp drop. On the 11th and 12th, the son reminded that short-term pullback risks are increasing and that the higher it goes, the more short-term risks are exacerbated. This is a result beyond willpower. The son has always reminded everyone at low points to pay more attention, while the increase instead raises risks.
In the evening, US stocks experienced a slight pullback. Attention is on tonight's CPI data release, while Musk released the Shiba Inu-themed government efficiency department (DOGE) logo. Yesterday, Doge also surged over 40%.
Normally, Bitcoin's high-level consolidation gives altcoins a chance to face recovery trends. ETH/BTC, after a sharp drop and rebound, continued to fall below 0.038. Subsequent attention should be on the continued rebound and altcoin recovery opportunities. At the same time, if it cannot recover, the risks will increase.
Bitcoin
After the rapid increase of Bitcoin, it shifted to high-level fluctuations. Here, we refer to the four-month period from October 23 to January. In fact, the time cycle and these two waves have been basically consistent so far, starting the upward trend in mid-September, breaking through the high point after half a year of fluctuations, and then fluctuating upwards. This wave seems to be moving faster in the acceleration phase, so this period of adjustment may also be more intense and volatile.
The 1-hour pullback to $85,000 and the rebound at high levels will continue to fluctuate. Last night, it touched below $90,000 again for a pullback, so currently, we are still looking at fluctuations above $85,000.
Support:
Resistance:
Ethereum
Yesterday formed an inverted hammer. The previously predicted bat pattern has also been completed. The 4-hour sustained divergence indicates a need for a pullback, which requires attention. Currently, it is at a pullback from breaking through $3,248. If it falls back, there will be a false breakout, and a reduction in positions is needed. For now, we still look at whether the exchange rate can show recovery, driving the altcoin recovery trend.
Support:
Resistance:
