Bitcoin technical analysis
4-hour level analysis
Bitcoin is currently forming a descending wedge on the 4-hour chart, while the MACD indicator shows a bottom divergence. However, two key pressure levels need to be effectively broken to confirm a rebound. The first key pressure level is 66000 and the second is 68400. If these two levels cannot be broken, the possibility of prices continuing to fall to the 59866-62500 range cannot be ruled out.
Moving average and indicator analysis
The price line has fallen below the three moving averages, and the overall trend is bearish. The moving averages show a "big and small eyes" pattern, which indicates that the short-term and long-term moving averages have a large gap, showing a change in market momentum. Nevertheless, the 4-hour RSI and MACD indicators show the need for a rebound. In addition, the price line has fallen to the Fibonacci retracement line 0.5 level and has received some support here. If the rebound fails to break through 68400, the price may fall again with a target of 62500.
Recommendations
Key pressure points above:
First track: 66000
Second track: 68400
Support range below: 59866-62500
Comprehensive analysis
Pressure level breakthrough: Pay attention to whether the price can effectively break through the two key pressure levels of 66000 and 68400. If the breakthrough is successful, the rebound will be confirmed.
Failure to break through: If the price fails to break through the above-mentioned pressure level, the possibility of further price decline cannot be ruled out, with the target range being 59866-62500.
Short-term rebound demand: The 4-hour RSI and MACD indicators show rebound demand, and the price line is supported at the Fibonacci retracement line 0.5 level, but it needs to break through 68,400 to confirm the validity of the rebound.
suggestion
When the price approaches 66000 and 68400, pay close attention to the breakthrough. If it breaks out, consider going long.
If it fails to break through, you can consider shorting when it rebounds to the above pressure level, with a target of 62500.
Ethereum (ETH) Technical Analysis
Daily level analysis
A large-scale triangle structure has been formed on the daily chart. If the rebound fails to break through the key pressure level of 3721, it is not ruled out that the price will fall to the bottom of the large positive line of 3100-3200. At present, the daily chart shows two pin patterns, indicating that the market has strong support and resistance in this range.
4-hour level analysis
On the 4-hour chart, the two cakes are currently at the lower edge of the falling channel, and attention should be paid to the breakthrough of this channel. If the price can break through this channel upward, it is expected to test the pressure level of 3721. However, if it cannot return to the previous high-level oscillation platform, it may continue to decline, with a target range of 3100-3200.
Key points
Key pressure point above: 3721
Support range below: 3100-3200
Comprehensive analysis
Pressure level breakthrough: It is necessary to pay close attention to whether the price can effectively break through the key pressure level of 3721. If the breakthrough is successful, the rebound will be confirmed and the possibility of further rise will increase.
Failure to breakout: If the price fails to break above 3721, it is likely to continue to fall with a target range of 3100-3200.
4-hour channel breakthrough: Pay attention to the performance of the price at the lower edge of the 4-hour falling channel. If it breaks upward, the pressure level of 3721 may be tested in the short term.
Recommendations
Long strategy: If the price successfully breaks through 3721, consider going long with the target at a higher price level.
Short selling strategy: If the price fails to break through when approaching 3721, consider shorting with the target in the 3100-3200 range.
Short-term focus: Pay close attention to the breakthrough of the 4-hour falling channel. If it breaks upward, the pressure level of 3721 can be seen in the short term.
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