Today's Market Analysis
Currently, the market is dominated by Bitcoin with high prices, while altcoins are in a state of chaos, showing a clear polarization—Bitcoin is in a bull market while altcoins are in a bear market! Bitcoin continues to set new highs every day, and there isn't much technical pattern to speak of; institutional control is too severe. Prices may rise to pay off debts, and the final outcome will be harvesting. There are too many uncontrollable factors at present; we can only ensure rigorous risk control to survive extreme market conditions, so that we have a chance to wait for favorable winds to arrive!
BTC
Bitcoin reached a new high of 108,385 yesterday, then fell and began a daily level consolidation. The next resistance levels are 109,000 and 110,000, with support at 105,500. If this position is broken, a one-hour level correction will begin, with support at 102,800 and 101,500 below. The four-hour closing broke 105,500, indicating a correction at the four-hour level.
ETH
Ethereum's performance has been disappointing, with multiple upper shadows appearing around the 4,000 price level recently, indicating strong selling pressure.
Recent candlesticks show a predominance of bearish candles, reflecting a bearish market sentiment.
Resistance above is at 3,944 and 4,018. Support below is at 3,855 and 3,790.
SOL
SOL is relatively strong at the moment, with continued support at the 213 level. As long as this position holds, we can expect a rebound, with resistance at 223. If the daily level stabilizes at this position, it will initiate a daily level increase. It is prudent to wait for the daily close at 223 before considering long positions, with additional resistance at 234 and 245 above.
Currently, this market is not suitable for altcoins; it’s best to focus on mainstream assets primarily through spot trading, manage your positions well, and earn within your understanding. Only trade when you understand the market; when in doubt, take a break and hold onto BNB for peace of mind.
