Short-term market trends

The market has been volatile recently. When it falls, Bitcoin falls far more than altcoins, and when it rebounds, altcoins are even stronger.

According to the data, the market value of Bitcoin fell by 1.3% last week, while the market value of the top ten crypto assets increased by 4.4%, with a market value gap of 5.7%. A similar situation had rebounded after May this year.

On the funding side, Bitcoin ETF had a net inflow of US$28.6 million, indicating a recovery in short-term macro funds, or suggesting that 52,500 last week was the bottom of the market.

From a technical point of view, the market rebounded and repaired in the four-hour and daily market. On-chain funds have not rebounded significantly. A super-short-term rebound is expected. The reversal needs to wait for the top pressure level to stand firm.

BTC

The idea remains unchanged. The price tested the 57600-58500 area again and was rejected. If it cannot stand above 58500, it will not constitute a reversal for the time being. The 54500-53600 area below is waiting to be tested! If it stands above, it will continue to look upward!

ETH

The price once again rushed up to 2350-2400 but was rejected. We will first wait and see the effectiveness of the support of 2300-2270! Only when it stands above 2400 can we continue to look upward!

SUN

The price once again rushed up to 135-138, with a maximum of 138! Rejected, pay attention to the effectiveness of the support of 130-126 below! Only when it stands above 138 can it continue to look upward!

The information and data involved in this content are derived from publicly available materials, and we strive to be accurate and reliable, but we do not guarantee the accuracy and completeness of the information. The content does not constitute any investment advice, and you are solely responsible for investing based on it!