Daily Share

Bitcoin fell below 95700 again last night. It was the third 1h level decline in the short term. It is generally in the process of 4h level correction. During the Bitcoin shock, the altcoin market did not pull back collectively, which shows that the funds in the altcoin market have become active, which is in line with what we said before. It is currently in the early stage of the altcoin season.

Binance founder CZ is currently hinting at the arrival of the altcoin season. Why is it that the altcoins have not fallen much for the time being despite the short-term correction of Bitcoin? This is because some of the funds used to pull Bitcoin prices have overflowed into the altcoin market, and Bitcoin is in a volatile adjustment, not a straight waterfall, so altcoins can continue to be active. Of course, altcoins cannot rise every day, and there are breaks in the middle. Perhaps when Bitcoin rises again, active altcoins may make a short adjustment. However, the current altcoins will no longer continue to pull back to a lower position like from April to September this year, and the intermediate pullbacks are only pullbacks in the middle of the rise.

BTC

Due to the rapid changes in the market, this article can only make predictions based on the market changes at the moment of publication. Short-term players should pay attention to the latest market changes, and this should only serve as a reference.

1H:

1-hour level: Yesterday failed to successfully achieve a 1-hour rebound, so it is still the continuation of the third 1-hour decline. In the short term, watch 93800; if it breaks below, then look at the area around 92700. It is expected that the 1-hour adjustment here should be almost over, and there will be an opportunity tomorrow for a 1-hour rebound to above 97000, followed by a fifth 1-hour decline to retest the area around 90000.

Overall, we still lean towards the idea that the market is in a consolidation and adjustment phase. The literal meaning of consolidation and adjustment is to complete a 4-hour level correction during the process of fluctuating up and down. This also indicates that the current market is still relatively strong, with the main body using time to exchange for space to repair indicators. After the market recovers, it will continue to surge above 100000.

15M:

15-minute level, the structure will be a bit more complex. Watch if it breaks below 94000 again. If it breaks below again, the 1-hour correction structure will be more complete. It is expected that there will be an opportunity tomorrow for a 1-hour rebound, watch around 97000~98000.

ETH

Ethereum here tends to undergo a 4-hour level correction. Pay attention to whether it retests around 3500 or 3480 tonight or in the early morning. It is expected that tomorrow or the day after there may be a 1-hour level rebound, as long as it does not break through 3760, there will still be a 1-hour level correction. Specific observations can be made.

Ethereum is expected to see a significant rise after a brief adjustment here, breaking through 4000. Be patient for the next wave of increase.

Trend direction

Weekly level: Direction is upward. It is currently undergoing a new weekly level increase, with an overall target above 150000.

Daily level: Direction is upward. The daily level is expected to reach around 120000.

4-hour level: Direction is downward. If it does not break through 99250, it should still be a 4-hour level correction.

1-hour level: Direction is upward. In the short term, watch if it breaks below 94000 again. It is expected that tomorrow there will be an opportunity for a 1-hour rebound to go above 97000.

15-minute level: Direction is downward. Watch the lower levels at 93800 and 92700.