#ETHmarket interpretation: The bullish trend has been expanded, and the trend reversal will happen this week! Pay close attention to the breakthrough of key resistance, and the bulls will watch step by step!
Powell's speech yesterday was in a "balanced" style, and the bullish sentiment in the Asian market "bought it" and the market rose. The bullish sentiment gradually expanded compared with yesterday, and we should be able to see the reversal of the daily trend this week.
Bold assumptions, careful analysis, welcome to Uncle Cat’s encrypted “channel”
Today's Asian market can be said to be very good, reversing the falling sentiment of the Asian market last week and turning to a bullish rise. In particular, we can see the trend at the 1-hour and 4-hour levels, gradually rising, and the small-level trend turned to bullish, but it still depends on whether the trend of the key daily lines will change this week. The bullish sentiment needs to be confirmed step by step.
Short-term resistance:
BTC: 59,000 (4-hour resistance): The current price breakout may trigger a small-scale pullback.
60,300 (Daily Resistance): A key position that determines whether the daily downward trend changes.
ETH: 3140 (4-hour resistance): The current price breaks through the short-term resistance and pulls back.
3280 (Daily Resistance): Similar in importance to BTC.
Callback support:
BTC：
58,000, 57,000, 55,000: 1-hour and 4-hour supports respectively, especially 55,000. If it falls below, there is a risk of further decline.
ETH：
3070, 3000, 2900: They are small-level supports respectively, especially 2900. If they fall below, the market will likely fall.
RSI：
BTC: Daily level index 42
ETH: Daily level index 38.5
Today, BTC sentiment is significantly better than ETH.
Summarize:
Through the small-level trends, we can see that bullish sentiment began to gradually expand after Powell’s speech last night, but the 4-hour level is still blocked, so don’t be blindly bullish.
I have often said during this period that the key support at the daily level is very important. Only when it breaks through and stabilizes, the daily downward trend will be changed. At present, the 1-hour and 4-hour trends have turned to bullish rises, so we must pay attention to the daily level. Once the daily level trend changes, we can turn to bullish thinking. In the medium term, look at the resistance of 65,500 at the weekly level. If the daily trend is changed, there is a 60% probability of looking bullish. Then if the weekly mid-line resistance is effectively broken through and stabilized, the bullish probability can be directly changed to more than 80%.
In the current state of trend change, what we can do is not to predict the future, but to confirm the trend sentiment of the market step by step. If the bullish trend continues and CPI is positive again this week, we will see the possibility of a change in the daily trend. If the key resistance of the daily line is not effectively broken through and stabilized, and the breakthrough fails, then we will continue to see a volatile decline.
#BTC走勢分析 #ETH🔥🔥🔥🔥 $BTC
