Bitcoin reached a new high of 99588 yesterday, just a few hundred points away from 100,000, and at the same time is at the upper edge of the 4-hour upward channel without breaking through. We previously said that once it breaks through 100,000, the next weekly position could be around 107000. However, the market is still a few hundred points away and has not broken through. The 4-hour upward trend has shown signs of breaking down to oscillate or even correct, which needs attention.
Ethereum's rebound broke through 3444 and reached a maximum of 3497. The rebound of altcoins is relatively large, with old altcoins generally increasing by a dozen to twenty points. There are livestreams on the 15th and 21st reminding about the altcoins during Ethereum's breakout from the box, and the staking and SOL ecosystem altcoins have also shown good gains.
Bitcoin
Yesterday, after reaching a high of 99588, there was a slight pullback, forming a small doji star. The entire segment from the 12th since the pullback to 85000 has been in an upward channel. The market has also touched the upper edge of the channel and pulled back. As of the article's writing, the 4-hour upward channel has broken down.
Yesterday's video also reminded about the altcoins that independently rose while Bitcoin was in a previous absorbing phase. Now, funds are all flowing into altcoins. If Bitcoin can maintain a high-level fluctuation, then altcoins will also see a rebound. However, if the market experiences a significant drop, it will similarly affect altcoins led by Ethereum.
Short-term supports at 95600 and 97122 are crucial; if broken, it will accelerate the decline.
Support: Resistance:
Ethereum
The article mentions that a breakthrough of 3444 has a pin bar drop back signal, but whether it can maintain a high-level fluctuation depends on Bitcoin. If there is a significant drop, Ethereum may not be able to avoid a false breakout. In terms of altcoins, attention should also be paid to Bitcoin's decline. Personally, I suggest looking for some altcoins that have not rebounded or are at lower levels, and also set stop-loss measures.
**** These three altcoin varieties are either daily line breakthroughs or daily line bottoms. Based on your own holding capacity, set stop-loss at 3, 5, or 7-8 points. However, stop-loss must be set to prevent a significant drop in Bitcoin that could lead to a market crash. One should know that Bitcoin has risen so much independently, and once it drops significantly, the level of altcoin corrections can be imagined.
The ETH/BTC exchange rate rebounded back to the previous bottom of 0.034. If it can maintain the above level, the rebound of altcoins is still quite promising and worth looking forward to!
Support: Resistance:
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The article is time-sensitive and is for reference only, updated in real-time.
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