BTC/ETH Technical Analysis, Bullish Momentum Weakens, Market Enters a Stable Transition Phase Bitcoin
·Market Sentiment and Trend: This week BTC fell from its historical high, dropping over 10% in three days, causing a shift in market sentiment, with bulls losing control. However, there was a rebound in price on the 21st. This pullback is typical in a cryptocurrency bull market, with bullish momentum weakening, but long-term trends are still being monitored Ethereum
Market Sentiment and Trend: Although ETH previously broke through 4,100, it immediately faced selling pressure and fell back. Currently, bullish sentiment remains in the market, with buying activity pushing the price close to 4,000 again. If this key resistance level is breached, it could trigger a bullish trend towards the historical high. If it fails to break through, it may consolidate between 3,500 and 4,000.
In summary, the analysis suggests that Bitcoin and Ethereum will likely experience sideways fluctuations for a while. Those trading short-term can take advantage of this, focusing on four-hour and eight-hour technical patterns, buying on dips and shorting on highs. Position sizes can be larger than usual, and there will be fluctuations over the weekend. Both low leverage and high short strategies can be implemented without incurring losses. Below are some reference points
BTC: 9.75 long, short-term target 9.83, 9.95 short, target 9.83/9.75
ETH: 3380/3400 long, short-term target 3548, 3560 short, target 3450#BTC☀️ #ETH🔥🔥🔥🔥🔥🔥 $BTC