Good weekend, brothers! This weekend has finally returned to a normal sideways state. Everyone should understand that in the last two weekends, Bitcoin surged from 70,000 to 80,000, and then from 80,000 to 90,000. It was basically achieved through these two weekends! It is worth mentioning that this week finally welcomed new news!
For the bears:
Good news: Bitcoin has finally stopped its surge, and we can get a good night's sleep. The bears must not have had a good night's sleep during this time, right? Every day they wake up, it's either the sky is falling or they are trapped in a position.
Bad news: Bitcoin has also been unable to fall below, and even after standing above 97,000, it can't drop anymore. Logically speaking, 100,000 should not hold, and it is even possible to pull another 20,000 points! However, the bulls should not fomo anymore; the subtle signs in the market have indicated that the trend is not strong.
The daily trend of Bitcoin is very important!
In the past few days, it couldn't break through 100,000, and yesterday it closed with a bearish candlestick on the daily chart! The important thing to watch today is if it closes bearish again; if so, the daily downtrend can be confirmed!
Moreover, careful brothers may notice that Bitcoin's trading volume has been shrinking, showing signs of stagflation! So today we still need to observe whether 99,800 will be effectively broken; if it breaks effectively, then it will surge again, and 100,000 might not hold!
If it closes bearish today, then 97,000 will likely not hold! The trend of a bearish drop plus a sharp decline might come.
Known resistance levels above Bitcoin:
98500-99523
Support levels below:
97033-93520-89988
Summary:
The bulls are still the main theme, and one should buy on dips. Don't get the priorities mixed up!
Ethereum is in a normal upward correction trend
Ethereum's trend can only be described as average! Everything follows the big boss's orders!
If Bitcoin breaks through 100,000, then Ethereum might return to 4,000
Conversely, Ethereum at 2600 will be seen again!
