BTC/ETH market analysis: BTC weekly support is broken, where to look next?
In fact, today's market chart can directly use yesterday's picture. The support points mentioned yesterday have basically been touched, and Bitcoin has even broken through the weekly support, and it is an effective break without rebounding. In this way, the oscillation range of 64,200-66,000 we mentioned yesterday has been broken.
BTC: Weekly support is broken. If it does not rebound above the weekly support in the early morning today, or continues to fall directly, the short-term buffer support below can be seen at 62,300 and 61,200. Then there is the so-called integer level of 60,000.
In fact, if Bitcoin falls suddenly, it will release selling pressure and stimulate buying volume. On the contrary, it will weaken the buying power in a negative decline. If it continues, it will effectively stimulate buying volume rebound around 60,000.
RSI: It has fallen to around 36, and the index has fallen below 30. There may be a probability of triggering an oversold rebound in the short term.
ETH: Compared with Bitcoin, it is more optimistic. Ethereum's decline was successfully stabilized by the daily MA7 support we mentioned yesterday. If this position falls below, the weekly support will be around 3350. But it still depends on whether Bitcoin can slowly stabilize above 60,000. After all, it depends on the face of the big brother.
RSI: The index continues to remain near 43, relative to the center, and the decline and sentiment are obviously better than Bitcoin.
The most ideal state of Bitcoin is to rebound above 64,200 in the early morning of this morning, or not fall below 62,300, which will make the sentiment of the cottage more stable. According to the current data, the cottage has slowly slowed down the decline.
Nvidia opened down. Whether it will bring back to the crypto market in the early morning is also very important.
