$BTC $ETH $SOL

Midday Analysis:

Looking at a potential pullback of 10,000, has the bull market collapsed? Should we cut losses and escape?

First, to answer this question, the bull market has not ended, and the anticipated big bull has still not appeared!

Review: Last night, it was mentioned that interest rate cuts are approaching, and FOMO sentiment continues to rise. Prices have not yet peaked, but sentiment is already nearing the top. In this situation, high-level shakeouts are likely, so a pullback is normal! Even a pullback of 10,000 is quite normal!

Analysis:

Chart 1: The BTC trend has shown a historic weekly 7 consecutive gains, a situation we have indeed never seen before. You might have seen it on a daily chart, but a weekly one is quite rare, so a 7 consecutive gain followed by a pullback is very normal; consider it a breather after climbing the stairs! Of course, the 8-12 hour top divergence is already quite evident (price breaks previous high, MACD does not break previous high). Therefore, pulling back to the MA60 moving average and the bottom of the ascending channel is quite normal. There cannot be a rise without a fall! The last 4-6 hour divergences have shown drops of 10 points (4-hour divergence: 996-909; 6-hour divergence: 1045-902).

So, combining time, space, volume, and price, it can basically be re-tested around the 100,000 mark! The support position is at 100,500!

Chart 2: The ETH trend seems to resemble a counterfeit pattern, with deep pulls at every support and resistance level, and the M-shaped pattern is also very pronounced; similar to BTC, it has risen to 4,100 and shown 8-12 small level divergences!

Combining the first two points, this drop to 3,700 should not be a big issue!

Chart 3: SOL showed rare strength yesterday. There was a chance to break 230 and look for a short position, but it couldn't rise past 228! SOL is experiencing a weekly level pullback. Normally, why is SOL lagging behind when it is a mainstream coin? It’s not too far behind considering it has reached 263. If ETH gains strength, SOL naturally needs to be more obedient. Additionally, the sudden increase in XRP's market cap is also diluting some funds! These are not the most important points; isn't the FTX liquidation supposed to start soon? SOL has some selling pressure!

SOL returning to around 200 and rebounding once more, the remaining factor is whether there is a strong intention to break below 200!