1.9 Old Leeks Talk About Coins

Market Review and Analysis

The overall market has experienced a sense of panic due to the market trend and today's performance over the past three days, but it is not extreme panic. For Bitcoin, this is a normal trend, with the decline, rise, and then drop to the current low point of 92,000, all falling within a normal range. The drop in altcoins is relatively moderate; the lowest point of around 3,200 earlier today showed a spike, and the gains over the past week have been wiped out in two days. The situation is dire for altcoins, which had minimal gains over the week, but the decline has been quite rapid. Now, it has basically started to stabilize; the market needs to go through a slow rebound to strengthen. According to the current trend, a direct rebound is still challenging; it is likely to start climbing slowly again. As long as the current low point of 3,200 for altcoins does not break, the market will continue to warm up in the short term, moving upwards in a fluctuating rising trend.

Today's Highlights

Bitcoin has touched the low point of more than 92,000 on both the four-hour and daily charts, which is also the last support point. It previously touched this position and started to rebound. Earlier today, it was also near this spike position. Currently, this area is being used as a support rebound focus. The first upper target to watch is around 98,000. The path is still the same as before, but Bitcoin rises quickly; it will not slowly climb like altcoins. Therefore, the key focus range remains unchanged at 98,000-102,000, with the subsequent key position at 108,000.

The stage of altcoins today touched the spike at around 3,200, which has basically stabilized this decline, marking a stop to this downward trend. The first rebound target to focus on at the intraday level is 3,430, with the second resistance level remaining the same as before in the 3,500-3,600 range. The key node position was quickly retraced after the last failed attempt to break through, without a second attempt. This time, if it rises slowly, it will continue to challenge the node position of 3,760-3,800. As long as altcoins can stabilize at around 3,800, the subsequent market will see a significant rise.