BTC/ETH market analysis: The bullishness is not true. The current cycle rebound resistance is more than support. The market needs to activate buying volume!

Originally, I looked at it in the afternoon. Bitcoin's early morning decline successfully reached the 62,300 support we mentioned last week and stabilized. The price decline channel did not fall below. I originally wanted to have a meal and come back to review and brag.

Well, guess what? It fell below at this time. The bullishness is not true!

Today, Monday, the weekly indicator has changed its position. From the picture, we can see that the resistance to the rebound is more than the support. There are not many effective supports below, but there are quite a lot of resistance above.

The 61,200 Fibonacci retracement gold support level we mentioned last week has shown a "useless" result again this time. Then we can only look at the integer level. I have always expected that the integer level can activate a wave of buying volume, and then see whether the buying volume can help stabilize the market. This time, the decline has successfully activated a little marginal buying volume near 60,000.

BTC: 60,000. It depends on whether the concentration of chips at this position is stable and whether this position can send back more buying volume before analyzing the subsequent trend. I can't predict the future, nor will I jump to the gods.

After the integer level is broken, there will be a dense technical support range around 57,000-58,000 below. This range includes the support of large-scale weekly and monthly lines, as well as support from MA200.

RSI: The index has fallen back to around 26. The index has touched the oversold rebound range. Pay attention to the short-term price rebound.

ETH: Compared with BTC, the decline is not so tragic because of the recent ETF narrative. The short-term support is 3270. If this position falls below, there is no clear technical support from the range below to around 3050, which is more pessimistic. However, if the ETF is passed, it will affect the ETF trend through the sentiment of the ETF, which can be regarded as a narrative support outside the technical aspect.

RSI: The index fell back to 37, and did not follow the decline of Bitcoin to touch the oversold rebound range, and the sentiment is much better.

#BTC走勢分析 #Mt.Gox将启动偿还计划 $BTC