đ Today's market analysis: Dr. Frog is here! đžđź
Last night, the market started to rise rapidly due to the expectation that the SEC would adjust the probability of passing the Ethereum ETF. Ethereum strongly broke through the pattern drawn in our figure, leading the entire market to a short-term rebound, and Bitcoin also followed to break through the resistance level of $70,000. However, this situation is not very friendly to the Asian market, and it always happens in the middle of the night.
Strategic recommendations:
Medium- and long-term holdings:
The medium- and long-term positions held continue to be held patiently.
Short-term operations:
Today, it is expected that there will be a certain continuation of the upward surge, but the increase will not be large. Don't worry about missing out. When the moving average of the disk is repaired, there will be a short-term retracement of the high-level shock.
Ethereum just rose to around 3750, which is a pattern resistance level.
Subsequent observations:
After this wave of rebound, if the retracement can be stabilized, especially the closing price of the large-cycle weekly line is stable, and if the Ethereum ETF is confirmed to be passed, this will be the biggest positive before the interest rate cut.
At present, we can only say that the probability of passing is increased, but it is not certain to pass. Before the news comes out, it is all expected speculation.
Altcoins:
Altcoins were in the bottoming stage before, and the current rebound has not effectively walked out of the daily reversal market. It still needs time to observe. It is more of a bottoming oversold rebound test.
Donât chase high if the short-term pull-up is too much, and you can do it at a low level.
Market signal:
This pull-up is a very positive signal given by the market, indicating that the overall market air force is getting weaker and weaker, while the resistance of the long army is getting stronger and stronger, and the market has entered the turning point stage of the big cycle. After so long, the subsequent market will only get better and better. The real violent bull market is in the near future!
Key points:
Bitcoin (BTC):
Small support: around $70,000
Downward support: around $68,000
Resistance: previous high
Ethereum (ETH):
Short-term strong resistance: $3750-3800
Support: around $3400
Do you like this content? Like, forward and comment to let more people know the latest market trends! đ#Cryptocurrency#Bitcoin#Ethereum#MarketAnalysis#DrFrogđžđź
