The long-short confrontation has entered a white-hot stage. It can be seen that BTC is approaching the 120-day bull-bear line.

In the past ten years, every time BTC breaks through the 120-day line, it will always usher in a big bull market. On the contrary, if it falls below the 120-day line, it will always plummet and weaken, so many people call the 120-day line the bull-bear line.

For example, in 2021, BTC fell below the bull-bear line, and then plummeted all the way, entering a two-year bear market, and most of the spot fell by 95%.

Until the beginning of 2023, BTC broke through the bull-bear line with a large volume, and the bear market came to an abrupt end. It is worth noting that since 2023, every time BTC fell to the vicinity of the 120-day line, it would always quickly pull back.

BTC is once again approaching the bull-bear line of $65,000, and it has become a key long-short window. Brother Wang believes that at this time, it is better to stay still than to move. It would be better to wait for the mainstream to confirm the bottoming out before considering intervention.

BTC:

BTC: ETF funds outflow, which plays an expected role in selling pressure on BTC. BTC bottomed out along the 5-day line, and the hourly line drew a door and probed downward, confirming the top selling pressure. The upper 66222 US dollars is the key point of the M head. Only by standing firmly at 66222 US dollars can it build a bottom and strengthen, and go out of the repair market. With the weakening of the long volume, BTC rebounded from the bottom, and then BTC fell back at 66222 US dollars.

Resistance level: 66222, 67023, 67656

Support level: 64678, 64102, 63638

ETH:

The ancient address sold a large amount of money, which played an expected role in selling pressure on ETH. ETH turned weak, the hourly line top continued to decrease, and the shorts increased their selling strength. The upper 3488 US dollars is the key point of the resistance line. ETH broke through 3488 US dollars with a large volume, and then it could quickly pull up and return to the long market. Next, ETH fell back at 3488 US dollars.

Resistance: 3488, 3594, 3672

Support: 3352, 3263, 3174#BTC走势分析