#BTC#ETHmarket analysis: Daily/weekly update, prices retreated ahead of schedule, key point breakthroughs are more stressful, and a fast-through-slow "death cross" is about to form!
The early pullback of BTC price during the day was quite unexpected. I wrote in my article about Bloomberg over the weekend that Wall Street is suppressing volatility of CPI this week. At the same time, the short contracts for the US stock market in the next 30 days are still three times the long contracts.
However, I did not expect that risk sentiment would be transmitted to the crypto market in advance. Of course, this is also due to the low liquidity of the crypto market on weekends.
At present, the daily/weekly lines have been updated again, and the price has retreated ahead of schedule. This also shows that our previous judgment was correct. If the key point of the daily line does not break through and stabilize, we cannot easily conclude the second exploration. At the same time, the current price decline has accelerated the daily line to cross MA200, and a "death cross" is about to form. Let's see how the market responds!
Point update:
BTC: Weekly range updated to 56,000-72,000, lower range 56,000-64,000,
The daily range is updated to 53,600-70,800, and the lower track range is 53,600-62,200.
The current key point is 62,200, which is also the key daily position we mentioned last week. It has now moved downward.
Whether this position can be successfully broken through and stabilized will determine whether the short-term second exploration range is the full track of the daily line or the lower track of the daily line.
MA200 has reached around 62,000 and is about to form a downward cross with the daily midline of 62,200.
Although it cannot be directly judged as a bearish signal, it has more downward signals for the price. If the price needs to continue to rise, it must try to break through 62,200 and stabilize tonight. Otherwise, the price will return to the situation of being suppressed by the daily mid-line and fluctuating downward.
In the short-term, please pay attention to the hourly level of 58,200 and the weekly level of 56,200.
RSI: The index is currently 44.5, which remains relatively neutral. There is no need to consider the impact for the time being.
Note: In the current BTC Bollinger Bands operating system, the daily amplitude of 17,200 points is greater than the weekly amplitude of 16,000 points, proving that the current short-term amplitude will be larger. Contract traders should pay attention to the range and risk.
ETH: Weekly range updated to 2500-3960, lower range 2500-3240
The daily range is updated to 2220-3600, and the lower range is 2220-2910
RSI: Index 40, has been at a lower range, remains neutral, ignore for now.
Currently, ETH's daily amplitude is smaller than its weekly amplitude, which is relatively normal, and its price fluctuation is much better than that of BTC.
Summarize:
Regarding the breakthrough point and the "death cross" problem we mentioned on Sunday, it seems that a decision must be made today, Monday. If it is formed or causes prices to continue to fall, then this week's CPI and the speeches by Musk and Trump may not bring much breakthrough momentum to the crypto market, and the BTC price may be suppressed by the key points of the daily line and fluctuate downward.
The details still need to pay attention to the reaction after the opening of the U.S. stock market tonight. BTC needs to maintain stability. If it can hold out until the conversation between Musk and Trump at 8 o'clock tomorrow morning, things may turn around.
#BTC☀ #ETH🔥🔥🔥🔥 $BTC