#BTC#ETHweekend market interpretation: rebound is in progress, breaking through the key can change the trend!
The liquidity is low on weekends, and the weekly moving average trend will be updated tomorrow morning. Let's take a brief look at the rebound on the weekend.
Bitcoin (BTC) and Ethereum (ETH) are currently in the rebound stage, but it is necessary to distinguish whether it is a rebound or a short-term oversold rebound. Overall, due to the weak liquidity on weekends, the rebound of BTC and ETH is relatively gentle, and it gradually breaks through the rebound from the 1-hour to the 4-hour level. The rebound has not yet reached the 4-hour breakthrough point. Only by successfully breaking through the 4-hour level resistance can we continue to see a higher-level daily rebound.
4-hour level key position
BTC: 59,000 ETH: 3,180
Breaking through these positions will determine the rebound and rise in the next stage.
Daily level key trend position
BTC: 61,500 ETH: 3,360
The daily position is the key to determining whether the subsequent trend will change the downward trend. As mentioned before, BTC and ETH have been running at the lower track of the Bollinger Band for nearly a month at the daily level, and the price has never been able to effectively break through and stand firm at the middle line of the daily Bollinger Band. This has caused the daily moving average trend to be in a downward state, so it is very important whether the price can break through and stand firm at this position when it rebounds.
If the breakthrough is invalid and continues to fall, there may be another shock and downward exploration.
Judging the rebound
The rebound rise and oversold rebound can be judged and analyzed by the breakthrough of key resistance levels. Excluding the influence of macro-emotions, if the breakthrough of the key position is invalid, the time period level cannot complete the breakthrough from small to large, indicating that the bulls are still powerless.
Recent price fluctuations
Recent price fluctuations often occur in the early hours of the weekend and Monday morning. Pay attention to the key position situation. Once the market moves abnormally, observe the key resistance situation, especially for contract traders. If the breakthrough of the key resistance is invalid, it is necessary to lock in the rebound profit instead of blindly looking at it.
