In the past couple of nights, $BTC and $ETH had quite the thrill, experiencing a sharp drop, but thankfully, it finally stabilized early this morning, and the market seems to be steadying a bit.
However, it still hasn't broken through the important resistance level above; Bitcoin is just a little bit away from that critical position between 98000 and 98500. After the surge, it hasn't dropped much and is now slowly adjusting.
We need to keep an eye on the support points below to see if the lows will rise. As long as the support holds, this market is likely to continue going up.
In recent days, the K-line chart has been fluctuating up and down, resembling a roller coaster. Bitcoin and Ethereum both dropped to lows of 92200 and 3100, then rebounded quickly, rising by 5000 and 400 points respectively. The long tails on the K-line clearly indicate strong buying pressure. Now, it looks like the significant daily drop is also stabilizing.
Looking at the technical indicators, although the MACD is currently negative, the bars are getting shorter, and both DIF and DEA are compressing at lower levels. It seems like the bearish momentum is weakening, and a rebound might be imminent.
In terms of trading, I believe Bitcoin can be purchased between 96000 and 96500, with a target set around 98500. Ethereum can also be entered between 3390 and 3420, targeting 3530; if it breaks that, we can continue to look upward.
Now that the overall market is starting to pull back, the market is about to explode! In this situation, it's best to position for potential altcoins! I have carefully selected a cryptocurrency that is expected to increase 2-3 times in the short term and 5-10 times in the long term, so leave a comment + like, and I'll share it for free!