#BTC#ETHmarket analysis: Weekend sentiment continues, BTC stands firmly above the 4-hour mark, looking forward to testing the integer level!
I also said last night that the emotions surrounding Trump's attendance at the crypto conference over the weekend might ferment from the early hours of the weekend to Monday. Since the event occurred over the weekend, it is normal for the market to extend.
However, I did not expect that the Asian market would be so strong today, allowing BTC to break through 69,000 and stabilize, and once tested the 70,000 integer mark. Let's take a look at the current market situation.
BTC：
Resistance: In the short term, it will help the turnover and selling pressure of the 70,000 integer level, and we should pay attention to the stability of this position. If the integer level breaks through and stabilizes, the target will be directly aimed at the previous high of the daily line of 72,000. If the sentiment is optimistic this week, it will directly break through the previous high of the daily line. I also said last week that the bullish sentiment will be extended for a longer time, and the market will gradually become active with high-level fluctuations.
Support: Short-term support, pay attention to the three positions of 68,900, 68,200 and 67,000 after the decline at the small level. The large-level support is still based on the weekly support. Today's weekly trend update remains around 65,700.
RSI: The index hits the 70 mark. Combined with the market, we need to pay attention to the probability of a short-term overbought pullback. It is estimated that the pullback will occur near the 70,000 integer mark. Excessive sentiment always requires releasing selling pressure to slow down sentiment, which will help prices continue to rise in the later period.
requires attention,
The BTC price trend has currently broken through the 4-hour Bollinger Band suppression, completing the breakthrough and stabilization. The upper line of the 4-hour Bollinger Band is near 69,530. As the 4-hour moving average changes, if the price returns to the 4-hour Bollinger Band track, we should pay attention to the short-term decline. On the contrary, if the price always remains above the 4-hour Bollinger Band, it means that the current bullish sentiment is still strong.
ETH：
I won’t say much about ETH for now. When we enter a normal trading day, we still need to consider the selling pressure of Grayscale. The market trend of ETH can only return to normal when the selling pressure of Grayscale enters a normalized equilibrium period. Once the selling pressure of Grayscale is consumed, referring to the overall market situation, if the overall market is optimistic, ETH will make up for the rise. If the overall market is not optimistic, ETH will still face a volatile market trend.
Please remember that ETH is not not good enough at the moment, but the external selling pressure has suppressed the buying sentiment. Too many people are waiting for Grayscale to crash down and get lower chips. Don’t think that ETH is no longer good because of external factors. At least in this bull market, ETH is still reliable.
Summarize:
The current market is still fermenting the effect of Trump’s speech over the weekend. After the U.S. stock market opens tonight, the crypto market and U.S. stocks will enter this week’s trading expectations. There are still many major events this week, including interest rate meetings, major and minor non-agricultural data, technology stock earnings reports, etc., which are enough for everyone to look forward to slowly.
#BTC☀ #ETH🔥🔥🔥🔥 $BTC
