1.6 Analysis of Bitcoin Market on Tuesday Night
In the afternoon, the market of Bitcoin was in a state of correction. Its high point was 101986, and its low point dropped to 101247. As far as the current situation is concerned, this correction is actually the market's self-adjustment and accumulation of strength, aiming to accumulate strength for the follow-up and achieve a more powerful upward impact. Ethereum's volatility is not obvious, and it is in a range of fluctuations as a whole. Where there is an ideal, hell is heaven. Where there is hope, pain becomes joy.
Bitcoin started to rise strongly from the lowest level of 97950 on the daily level, all the way up to the highest level of 102500, and finally closed at 102200. In this process, it can be clearly seen that the support below is about 101000, while the pressure above is about 104000. At the same time, the MACD indicator shows that the bullish energy is increasing, which to a certain extent indicates the strengthening of the bullish power. From a 4-hour perspective, the price has experienced stagflation at 102700 in the short term. In the short term, there are two key support levels, 101500 and 100800. If the subsequent market can remain stable and rebound, its target is expected to be around 104000.
Bitcoin: around 101000, short-term 103000
Ethereum: around 3620-3640, short-term target 3750
