Bitcoin Market Analysis $BTC
Bitcoin has risen from 24,800 to 27,400 in the past few days, which basically reached the target we predicted before. The current rising trend is approaching the end, and it is not recommended to chase the rise.
Overall, this rise is a three-wave upward structure, indicating that it is currently a larger level of shock, and after the shock is completed, a double sawtooth downward structure will be formed. It is expected to return to the bearish trend next, and falling below 26,300 will confirm the end of the rise.
Ethereum Market Analysis $ETH
Ethereum's trend is similar to Bitcoin's, and it has also experienced a wide range of fluctuations. The current trend indicates that it will continue to move downward for a while. Falling below 1589 confirms the end of the rise.
The right energy system of the community, Ethereum issued a short signal at the 4-hour level.
Altcoin Recommendations
Astro Coin market analysis: It may be in the C wave of the ABC structure. It is uncertain whether it has ended. It is recommended to hold the spot and wait and see. $ATOM
Analysis of other currencies: For example, Avax coin may be in the fifth wave of the five-wave structure, or it may need another wave of decline. It is recommended to wait until the Bitcoin structure is complete before participating.
Order Suggestions
Establish a bottom short position for Bitcoin around 26,900, and establish a bottom short position for Ethereum around 1,640.
