This morning saw another wave of flow, retracing to 978 and then pulling up to a high of 998, reminiscent of the previous 999. The focus later should be on the strength of today's retracement.
A rise from 978 to 998 by 2000 points means that the retracement should not break below 990-988. If this dense support zone is broken, it is highly likely to return to the weekend's small range of 975-985.
The rapid rise in the morning is, in my opinion, not a good sign, and this can be seen from the market. Additionally, whether holding a position or being in cash, it’s best to wait and not rush to act.
Ethereum similarly surged to 3698, and today the retracement strength must not break below 3600. If it breaks 3600, it will continue its retracement.
Ethereum has indeed been dragged down hard since rising from 3400; I consider Bitcoin to retrace after this, but this time it strongly countered Ethereum!
$BTC