The U.S. stock market closed mixed, with the Dow Jones index down 0.20%, the Nasdaq index up 0.12%, and the S&P 500 index flat. The cryptocurrency market has stabilized, with significant sector rotation occurring. Bitcoin's price remains above $100,000, while Ethereum is currently trading at $3,900. As the market approaches the weekend, it may enter a short-term adjustment phase, which could occur at either a high or low, depending entirely on overall market dynamics. In the short term, especially during the Saturday and Sunday nodes, we should closely monitor the pullback dynamics!
After Bitcoin hit a low of 99149 in the morning, it stopped and showed a trend of oscillating upwards, with relatively slow movements during the session. After a slight pullback in the evening, it surged again, currently rising to a high of 101768. The market has been oscillating around 100,000 for the past two days, gradually forming a range of oscillation. Both bulls and bears have been locked in a tug-of-war. From the current market analysis, the price is in a high-level consolidation and correction. Currently, there is some pressure at 102000, and it is relatively difficult for the large cake to break through effectively in the short term. If the subsequent price cannot break through 102000, it will continue to pull back, and back-and-forth oscillation will become the current trend. Last night, the market attempted to break through this level multiple times but quickly fell back. However, the bullish force surged again, indicating that the bullish energy remains strong, and subsequent breakthroughs of pressure levels are just a matter of time. From a short-term hourly price perspective, it has repeatedly found effective support at this support level without breaking through, further enhancing the market's bullish sentiment. The operation still recommends maintaining a low bullish strategy.
After Ethereum re-tested the low of 3835 in the morning, it has been in an upward oscillation. It started to decline from a high of 3964 in the early morning and currently reached a low of 3877. At the four-hour level, the price of the coin temporarily remains above the mid-track. After bullish volume, the four-hour structure has temporarily weakened. Whether it can break through the short-term highs on Saturday and Sunday is key to the continuation of space. If it cannot break through, it will continue to oscillate and decline. Currently, in the short term, it may oscillate back and forth. In the long term, if the high is not broken, the expectation in the short term may be to pull back first and confirm support, then there is a possibility of an upward trend. Therefore, it is still recommended to pay attention to long positions in the short term. Considering that the weekend is approaching, trading volume is expected to be not too strong. Therefore, it is still recommended to trade with light positions in the short term, reducing the position for each entry and entering in batches, being relatively cautious!
