No. 12.3 Old Leeks Talk About Coins

Market Review and Analysis

The overall market had a slight pullback yesterday, but the pullback was relatively weak. Bitcoin has been fluctuating at a high level, and this pullback can only be considered a normal intraday fluctuation, not even a proper pullback. The pullback of Ethereum was greater than that of Bitcoin yesterday, but at the same level, it is also a normal pullback at this stage, not the kind of decline that drops several points in a single day. Currently, the market is in a phase where liquidity and market enthusiasm will only lead to a rotation of performances among certain coins. There will not be a collective surge; instead, there will be phases where some coins perform well. This means that there may be certain coins that rise daily, depending on which coins you hold and at what price you choose to exit.

Today's Focus

Looking at the BTC market from the daily chart, the highs are consistently decreasing. From the four-hour chart, this trend is very obvious. However, Bitcoin has not fallen yet, indicating that a lot of funds are still entering Bitcoin for protection or to buy in anticipation of breaking ten. Regardless of whether it breaks ten in the future or reaches the desired 120,000-130,000 USD each, or even 150,000-200,000 USD each, let's focus on the current phase. The video from yesterday explained this clearly; you can replay it if you want. Bitcoin is in a phase of consolidation, with Ethereum and altcoins showing performance, so this stage is not a runaway mode for Bitcoin.

ETH has approached the 3560 level twice, and yesterday it closed with a half bearish pin bar. After a drop early this morning, it returned to the drop zone. According to the current phase's trend, we should pay attention to the four-hour resistance points in the 3640-3680 range. On the daily chart, the key level to watch is 3800, with the first support level at 3480-3520 and the second support level at the currently valid strong support of 3260-3320. This was also discussed in yesterday's video.