Market analysis: News broke out in the industry last night that Binance and the SEC reached a settlement with a fine of up to US$4.6 billion, plus CZ resigned as Binance CEO. Binance, as the world's largest centralized exchange, this incident has greatly changed the industry. There was an immediate reaction in the market, and Bitcoin also suffered a relatively large decline. This matter is negative in the short term, with suppression and punishment from regulatory agencies, but it is positive in the long term. The industry is becoming more compliant, transparent, and regulated, which opens a lot of doors for the adoption of Bitcoin ETF spot in the future. Good access. So this pullback is a good opportunity to get on board. From a technical point of view, Bitcoin has now fallen to a position where the pressure of the ascending triangle shape of the early platform turned into support, resonating with the support of the daily MA30 moving average, so this position has relatively strong support, and it has rebounded today. Observe the strength of the rebound. Whether it can break through the resonance pressure of the daily MA5 and MA10 moving averages will determine whether it can directly return to the bullish trend at the moment. The support level is around 35600 and around 36600.

Ethereum fell in conjunction, once again touching the pressure-to-support range of the early platform, and then rebounded after receiving confirmation of support. The current K-line pattern of Ethereum is still in a downward channel as a whole. Multiple rebounds will be knocked down once they touch the lower line of the downward channel, but the support level is also relatively obvious. In the early stage, the platform pressure turned to support the resonance daily level. The position of the MA30 moving average has pressure at the top and support at the bottom. It is expected that the market will change soon. Looking at the overall market, bulls will still have the advantage. The support level is near 1930 and the pressure level is near 2000. #ETH. #BTC🔥🔥