Bitcoin is currently poised for a potential 1-hour (1h) correction in the short term. After reaching a high of 66,998, it has now fallen below 65,800. This movement indicates the possibility of a short-term correction, with critical support around 65,000.
Ethereum has seen a rebound above 3,600 but failed to break through 3,700. A 1h level pullback appears likely, with key support levels at 3,450 or 3,400.
Bitcoin (BTC) Analysis
Current Situation:
- Bitcoin is undergoing a new 1h level pullback, starting from 66,998.
- The main support level to monitor is 65,000.
Short-term Outlook:
- If Bitcoin bounces off 65,000, a quick recovery could ensue.
- A 4h closing line falling below 65,000 without immediate recovery might signal a new daily pullback, potentially bringing Bitcoin down to the 56,000–59,000 range.
4-Hour and Daily Projections:
- Holding at 65,000 could allow Bitcoin to build a 4h level base, facilitating upward movement.
- Should 65,000 hold, the next 4h rebound might break through 73,777.
- If 65,000 fails to hold, rebounds might be limited to 71,500.
15-Minute Analysis:
- Initial support to watch is at 65,300.
- A 15-minute level rebound may face resistance around 66,200.
- A subsequent 15-minute pullback could test 65,000 again.
Ethereum (ETH) Analysis
Current Situation:
- Ethereum's upward daily structure suggests it should surpass 4,000.
- A new 4h rise is likely, aiming to break through 4,000.
Short-term Projections:
- The anticipated 1h pullback has support levels at 3,450 and 3,400.
- Ethereum is expected to perform well this week.
Scenarios to Watch:
1. Synchronized Movement:
- Bitcoin remains above 65,000, forming a 4h base, and continues its daily rise.
- Ethereum follows with a 4h rise to test 4,100.
2. Divergent Movement:
- Bitcoin drops below 65,000, leading to a new daily decline.
- Ethereum continues its daily rise independently, targeting higher levels while Bitcoin experiences a 4h rebound within its daily pullback.
Trend Directions:
- Weekly Level: Upward, targeting $180,000.
- Daily Level: Upward, with a revised target around $80,000.
- 4-Hour Level: Downward, nearing 65,000 support; holding this could lead to a rebound.
- 1-Hour Level: Downward, focusing on the 65,000 support.
- 15-Minute Level: Downward, with an expected short-term rebound followed by another pullback.
Conclusion:
Bitcoin's short-term trajectory is contingent on the 65,000 support level. A rebound from this point could trigger significant upward movement, while failing to hold might result in a deeper correction. Ethereum's outlook remains strong, with potential for continued gains. Traders should closely monitor these critical support and resistance levels for informed decision-making.