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Deep Retracement, Unstoppable
Since the beginning of the month when Trump won, Bitcoin has been soaring, starting from 65000 and approaching the 100000 mark. This bull market came unexpectedly but was also anticipated. It wasn't until recently that Bitcoin's momentum began to slow down, indicating that the 100000 mark is a turning point. A breakthrough would continue the upward trend, opening a new round of bull market, while a failed breakthrough would result in a pullback. Clearly, Bitcoin has failed, but whether this signals the end of the bull market remains to be seen. Always remember a few phrases: The situation is still uncertain; you and I are both dark horses. As the market behaves, so do we.
Returning to the market, yesterday Bitcoin continued the upward trend from Monday, rising from 99000 to a low near 91500. This deeper pullback has given the struggling support forces a chance to catch their breath. What does not kill me only makes me stronger. After finding support below the low point, it started to rebound, indicating that 95000 has now become a new resistance level. If it does not break through, a reversal will be difficult. The overall trend still sees Bitcoin as the leader; in terms of operations, one can enter on the rebound.
Looking at Ethereum, its recent performance will be noteworthy. Bitcoin has had a significant pullback, but Ethereum is still hovering around 3300. Although it is being dragged down by Bitcoin, there are no signs of collapse. Perhaps when this round of pullback ends, it will perform even better. Let's look forward to it.
Early morning operation suggestion:
Bitcoin above 93500 is bullish, aiming for a break at 91500 to see if 90000 can hold.
Ethereum above 3330 is bullish, aiming for 3280, and if broken, watch for 3200.
Since the beginning of the month when Trump won, Bitcoin has been soaring, starting from 65000 and approaching the 100000 mark. This bull market came unexpectedly but was also anticipated. It wasn't until recently that Bitcoin's momentum began to slow down, indicating that the 100000 mark is a turning point. A breakthrough would continue the upward trend, opening a new round of bull market, while a failed breakthrough would result in a pullback. Clearly, Bitcoin has failed, but whether this signals the end of the bull market remains to be seen. Always remember a few phrases: The situation is still uncertain; you and I are both dark horses. As the market behaves, so do we.
Returning to the market, yesterday Bitcoin continued the upward trend from Monday, rising from 99000 to a low near 91500. This deeper pullback has given the struggling support forces a chance to catch their breath. What does not kill me only makes me stronger. After finding support below the low point, it started to rebound, indicating that 95000 has now become a new resistance level. If it does not break through, a reversal will be difficult. The overall trend still sees Bitcoin as the leader; in terms of operations, one can enter on the rebound.
Looking at Ethereum, its recent performance will be noteworthy. Bitcoin has had a significant pullback, but Ethereum is still hovering around 3300. Although it is being dragged down by Bitcoin, there are no signs of collapse. Perhaps when this round of pullback ends, it will perform even better. Let's look forward to it.
Early morning operation suggestion:
Bitcoin above 93500 is bullish, aiming for a break at 91500 to see if 90000 can hold.
Ethereum above 3330 is bullish, aiming for 3280, and if broken, watch for 3200.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
BTC
95,447.23
-0.43%
ETH
2,663.8
-2.90%
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