On 24/12/30, BTC weekly chart shows a doji star, frequently testing the 92000 support. Is the downward B wave still continuing to oscillate?
This morning again tested the 92232 support line, with a minimum drop to around 93000 oscillating. Currently, it is still in a downward B wave above the 92232 support. If this support holds, the box oscillation will continue, and even if it breaks, the decline space is considered to be limited.
The weekly chart shows a doji star. This week is quite critical as the annual, quarterly, and monthly charts are about to close. The probability of the monthly chart closing as a doji star is relatively high, with the doji star bottom being the support at 90000. Moreover, we believe this is still a continuation of the upward trend.
Bitcoin
The market for Bitcoin these days is just grinding; it can't rise much or fall much, just consuming time. Let's wait patiently. From the K-line chart, there is support around 93000, but the rebound strength is not strong. The 92232 support is being tested for the third time. We still hold the initial position we entered in this area near 94000.
Although we cannot be bearish as long as 92232 holds, we are still placing limit orders below, waiting for lower price points to accumulate positions. This wave of adjustment looks towards 130,000 to 150,000.
Support:
Pressure:
Ethereum
Ethereum's weekly chart shows two small bullish candles rebounding, facing the large bearish candle at 4107. It is difficult to pull back directly with small bearish and bullish movements slowly grinding. The daily chart also shows short-term oscillation pressure at 3555.
The 4-hour chart has formed a converging triangle. This morning it bounced off the bottom of the triangle, but for our 3150 limit orders, the short-term fluctuations still have little impact. Those without positions can also wait for opportunities between 3200 and 3100 for a second test. We even have limit orders placed for lower prices.
Support:
Pressure:
