Today, I will analyze the Bitcoin chart comprehensively from a technical perspective. The previous Fibonacci expansion line on the weekly chart broke 61.8%, the next position is 78.6%, which is just 107000. The weekly line has risen for 4 consecutive weeks, staying on the BOLL upper track. Although there has been divergence in volume and price, the smaller 4-hour RSI and MACD show divergence, but the daily line has not broken below MA20, and the overall pullback is still above the Fibonacci 0.236, leaning towards high-level oscillation upward.
The ETH monthly line has only increased second to February's large bullish candle. A pullback is still seen as bullish. The daily line is still moving upward along the upper line within the trumpet shape. The 4-hour chart continues to move upward along the BOLL middle track, and the MACD divergence depends on whether the current sustained high-level fluctuations can be digested.
Bitcoin
Bitcoin once again touched around 98100 in the morning, faced resistance and fell to a low of 96077, which is also close to the pressure at 98600, and a normal pullback is expected. Short-term support is at 95600; if it does not break below this, it will still attempt to challenge 98600 or even 99588.
Four days ago, it was also mentioned that the potential head and shoulders bottom pattern also needs to pull back to the neckline without breaking to continue rebounding. The Fibonacci levels of 99588—90800 are also above 0.382 (96000). If it can maintain above this level, there is a chance for oscillation to challenge previous highs or even break 100000.
Support: Resistance:
Ethereum
The ETH/BTC exchange rate is facing a turning point, and it is currently retesting the 0.038 platform pressure. The weekly MACD crossing the zero axis is worth paying attention to.
The ETH daily chart is still within a expanding triangle, and the weekly line is just near the descending trend line of 4093 to 3980. If it cannot break through, a pullback near 3500 is needed. The 4-hour chart has formed an ascending wedge, so pay attention to the probability of a downward break. Short-term support is at 3530—3630.
Support: Resistance:
If you like my views, please like, comment, and share. Let's navigate through the bull and bear markets together!!!
The article is time-sensitive and for reference only; it is updated in real-time.
Focus on K-line technical research, sharing global investment opportunities. Public account: Trader Prince Fusu
