From the market perspective, it is currently in a peak high-altitude situation. Even if there is a stabilization in the short cycle, it will only rebound slightly, and the market remains a high-altitude trend. Now, the focus is on whether Bitcoin (BTC) can break below $92,000. If it breaks below $92,000, continue to look bearish! If the double bottom between $92,200 and $92,400 stabilizes, then a rebound can be expected! Currently, the rebound is weak, and it is difficult to determine where it can rebound to. The temporary upper resistance levels are $96,500, $97,400, and $98,200. If these three resistance levels can be successfully broken, then we can look up to $99,200 to $99,400. If it breaks below $92,000, then look at $88,000 and $85,000. Overall, it still belongs to a bearish trend recently. Nevertheless, remain cautious when shorting!
Ethereum (ETH) has also shown a double top signal, with the neckline between $3,470 and $3,555. First, see if this rebound can break through this range. If it cannot break through, continue to look bearish. If it breaks $3,555, then look bullish towards around $4,000.
The above market analysis is for reference only! I hope it is helpful to you!
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